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Futures mixed, iron ore higher

Market futures are mixed as US-China tensions and the earnings season continue.
Futures mixed, iron ore higher Futures mixed, iron ore higher Futures mixed, iron ore higher Futures mixed, iron ore higher Futures mixed, iron ore higher

Barrick Gold is due to release its second quarter results today

Staff reporter

Barrick Gold is due to release its second quarter results today.

The gold price has softened but remains above the US$2,000 per ounce mark, reached for the first time last week.

It was about $2,208/oz on the spot market at the time of writing.

China's iron ore imports in July surged to a record, up 24% from a year earlier, Reuters reported, driven by shipments from miners and resilient demand as the economy bounced back after disruptions from the coronavirus pandemic.

The latest MySteel 62% Australian iron ore fines price is $121.50 per tonne, $2 below a 2019 peak.

Rio Tinto was among the mining majors to close lower in London on Friday, down 1%.

Glencore lost 3.2% having earlier announced it would not pay an interim dividend after posting a half-year net loss.

Barrick Gold closed 1.8% lower in Toronto on Friday and Freeport-McMoRan fell 4.1% in New York.