Daily iron ore price update (steel gusher)

Tuesday, 24 September 2019

Texture from Reuters:

China steel futures rose on Monday, rebounding from a two-week low on falling inventory and fuelled by tightening output curbs in smog-prone cities pledged by the environment regulator ahead of the heating season.

…Steel products’ stockpile in China dropped for the sixth week to 11.4 million tonnes in the week ended Sept.20 on firm demand outlook, data compiled by Mysteel consultancy showed.

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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.