Skip to Content
Global News Select

Materials Up After Chinese Economic Reports — Materials Roundup

Producers of metals and other raw materials rose after reports that China's industrial economy strengthened late last year, even as overall growth slowed.

Overall, China's gross-domestic product rose 6.1% in 2019, within the government's target range of 6% to 6.5% but the lowest level in nearly three decades. Still, capital-expenditure trends suggest that businesses in China remain confident of economic expansion: investment in computers and electronics manufacturing rose about 17% in 2019.

London-based global miner Rio Tinto forecast improved iron-ore shipments from its Australian mining hub this year after operational and weather-related setbacks curbed output in 2019. The miner, one of the world's top exporters of the steel ingredient, expects to ship between 330 million and 343 million metric tons of iron ore in 2020.

About 30.8 million acres were planted with winter wheat this season, down 1% from the year before and not much more than the roughly 29.2 million acres that were seeded in 1909, according to the U.S. Department of Agriculture.

Write to Rob Curran at rob.curran@dowjones.com

 

(END) Dow Jones Newswires

January 17, 2020 16:26 ET (21:26 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.