Daily iron ore price update (fly be free)

It’s all good again as steel and iron ore enjoy another bounce following China’s lousy growth report last week:

China’s industrial economy is pretty weak but it is still being supported by the runaway building of empty apartments across lower tier cities. Thus things are still not bad enough for any material shift towards more stimulus so I’m not sure what all the excitment is about.

Still, we’re deep into restocking season now so it could run (or not).

I still see lower prices in Q2, 2020 as the better bet, as supply corrects to normal.

David Llewellyn-Smith
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