Daily iron ore price update (return to Eden)

Texture from Reuters:

Steel sales in China, however, have softened as growth in the machinery sector slowed, while the offset from infrastructure has not been sufficient, Westpac analysts said.

“The Chinese administration clearly stated at the July Politburo economic meeting that property will not be used to boost growth this time so this significant part of steel demand is unlikely to come to the rescue in 2020,” they said.

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