Iron ore jumps as China commits to the stimulus of nothing

Wednesday, 28 June 2023

Chinese rebar and iron ore futures both popped yesterday:

This was the driver:

China will roll out more effective policy measures to expand domestic demand, Premier Li Qiang told delegates at a World Economic Forum summit in Tianjin.

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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.