China plans to build a mega-dam in Tibet, reigniting hopes that Beijing will prioritize steel-intensive projects to drive economic growth, with iron ore trading volumes surging amid expectations of more stimulus measures in the coming weeks. As Premier Li Qiang announced that the country is advancing a hydropower project on the Yarlung Zangbo River, costing 1.2 trillion yuan ($256.2 billion), Singapore iron ore futures surged by up to 4% on Monday, reaching a four-month high of $104 per mt.
China's Giant Dams Trigger "Frenzy" in Iron Ore Trading
- Jul 25, 2025, at 10:35 am
China plans to build a mega dam in Tibet, reigniting hopes that Beijing will focus on steel-intensive projects to drive economic growth, amid market expectations of more stimulus measures in the coming weeks.
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