Daily iron ore price update (the 2020 story)

Wednesday, 18 December 2019

Texture from Reuters:

Meanwhile, official data on Monday showed China’s real estate investment grew at a slower pace in November at 8.4% year-on-year, while new construction starts contracted last month after a surge in October. month’s property data is significantly lower than expected,” Huatai Futures said in a note, adding that ferrous prices plunged following the data as it missed consumption expectations.

That’s the 2020 iron ore story right there. As house prices cool:

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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.