Part 5/8:
Iron Ore Sector: The mining sector remained buoyant, with iron ore prices reaching nearly $104 USD per ton, a three-month high. This positive sentiment is attributed to a major infrastructure project announced by China—a hydroelectric dam in Tibet involving five massive dams. The project will require millions of tons of steel, hence boosting demand for Australian iron ore. Major miners such as BHP, Rio Tinto, and Fortescue benefited, along with Canadian miner Champion Minerals and diversified miner MinRes, all posting gains around 3.1%.
Childcare and Education: The sector saw a bounce-back after weeks of heavy selling, suggesting some investor confidence returning.