【Ferro-alloys.com】:Iron ore rallied along with copper after Chinese Premier Li Qiang said that growth has picked up this quarter and more stimulus was in store, boosting the outlook for consumption in the biggest metals importer.

China will roll out more practical, effective measures to expand domestic demand and stoke market vitality, Premier Li told the World Economic Forum in Tianjin. Iron ore, used to make steel, surged by almost 4%.

In addition, Mike Henry, head of BHP Group Ltd., the world’s largest miner, urged the Chinese government to provide more help for the housing market, acknowledging recent data had been patchy. “We do think there’s room for a little bit more policy that is supportive,” he told reporters in Brisbane.

Industrial metals rallied at the start of the year as China reopened after Covid Zero was ditched, but the upswing stalled this quarter as manufacturing and the property market disappointed. While the central bank cut policy rates this month to aid the economy, investors expect more steps will follow, although it’s unclear if they’ll be enough to significantly revive growth.

• [Editor:Alakay]