Daily iron ore price update (fly be free)

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

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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).

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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.