Kumba and Assore Stocks Bounce Back

Apr. 08, 2014 11:29AM PST

Reuters Africa reported that South African iron ore producers Assore and Kumba have seen their stocks come back with roughly 3.5 percent gains on spiking iron futures.

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.