Steel mill iron ore stocks stable

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A couple of charts form Credit Suisse this morning show Chinese steel production slowing seasonally:

Screen shot 2013-10-30 at 10.50.23 AM

And iron ore stocks stable:

Screen shot 2013-10-30 at 9.53.13 AM

Assuming that steel production keeps slowing, iron ore prices should weaken into a December reversal for the early year steel rebuild.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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