Daily iron ore price update (ex-growth)

Texture from Clyde Russell:

Is it time to challenge the conventional wisdom in iron ore and steel markets that poor Chinese economic data is actually good news because it means Beijing will ramp up stimulus spending, thereby boosting demand?

The current thinking of ‘bad data equals good news’ was on display this week, with steel prices rallying after economic news showed a deepening slowdown in China’s factory and consumer sectors.

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