Kumba and Assore Stocks Bounce Back

Reuters Africa reported that South African iron ore producers Assore and Kumba have seen their stocks come back with roughly 3.5 percent gains after a lackluster performance by South African stocks last session. The rise comes after iron futures spiked on confidence that Chinese demand for the metal will persist.

As quoted in the publication:

Assore added 3.55 percent to 420.14 rand while Kumba Iron Ore, a unit of Anglo American, added 3.5 percent, making the pair among the biggest blue-chip gainers on the day.

Click here to read the full Reuters article.