Iron Ore Rises as Fortescue Says Exports Hit by Mine Disruptions [BNN Bloomberg (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
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are likely to be at the lower end of guidance after disruptions at Western Australian mines. Futures in Singapore rose as much as 4.7% before paring gains. The company said exports were down 6% in its third quarter from a year earlier, due to an ore car derailment and weather woes. The guidance range was unchanged at between 192 million tons and 197 million tons for shipments in the year to June. Some optimism over China's property market also helped sentiment. The real estate market is seeing persistent demand and has abundant room for development, driven by improving living standards and urbanization, the official Economic Daily said in a commentary. The property sector has been gripped by a years-long crisis, with home prices continuing to fall in March. The slump has yet to reach a bottom, according to Goldman Sachs Group Inc., even as policymakers ramp up measures to revive demand. Futures in Singapore rose to $118.10 a ton before trading at $117.10 by 10:55 a.m. local ti
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