Iron ore prices today only (in Canberra for the Thunder Tour), Tianjin benchmark ore lifted 60 dent to $64. Qingdao was up $1.89 to $64.95. Dalian was up a little overnight to 470. Coking coal futures were down a touch to $180.23. Rebar futures were flat 3909.
In news, Barclays has beared-up:
In a note sent to S&P Global Platts, the bank pointed to three main factors that could hit iron ore, and copper, prices: first, “demand side rationalization” from China’s impending 19th Communist Party Congress; second, a cooling macro-economy, particularly in the real estate and appliance sectors, and third; any clampdown on price inflation.
