China’s plan to build a mega dam in Tibet has revived hopes that Beijing is targeting steel-intensive projects to drive growth, triggering a spike in iron ore trades as the market positions for more stimulus measures in the weeks ahead.
As Chinese Premier Li Qiang announced the country was proceeding with a 1.2 trillion yuan ($256.2 billion) hydroelectric project on the Yarlung Tsangpo River, futures in Singapore jumped as much as 4 per cent on Monday to a four-month high of $US104 a tonne.
