Assore, Kumba gain on higher prices

Comment on this story
Kumbaironore Independent Newspapers Two workers at a Kumba Iron Ore mine. Photo: Simphiwe Mbokazi.

Johannesburg - Shares in South African iron ore producers Kumba and Assore rise in tandem with iron ore futures, which hit six-week highs amid optimism Chinese demand will remain firm after a sustained drop in stockpiles since the start of March.

Kumba shares trade 2.3 percent higher at 387.47 rand, making it the biggest gainer on the Top-40 index, which was up 0.21 percent. Assore adds 2.15 percent to 414.50 rand.

The most-active September iron ore contract on the Dalian Commodity Exchange rose 3.1 percent to settle at 825 yuan per tonne, after peaking earlier at 833 yuan, a level last seen on February 24. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.