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Here’s the price update and charts for the iron ore complex, and unimpeded by the crash and lockdown in Chinese equity markets, spot ore and rebar prices surged 2%:
No such luck on the swaps or Dalian futures though, so this “tear” could end in tears as restocking finishes. Yesterday we got the latest Caixin-Markit manufacturing PMI print, which registered another fall, this time down to 48.2 for December, below the 48.6 level of November.
This is now ten months in a row of contraction. Chart from Business Insider:
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