China Economy Commodities Iron ore price

Iron ore cracks

Friday, 4 August 2023

Dalian and Singapore are both sitting right on 2023 support. Shanghai rebar cracked as well:

More unstimulus was forthcoming:

The People’s Bank of China said it would ensure the private sector received the extra resources it needed to grow, a pledge that came after the central bank made a rare disclosure about meeting with company executives.

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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.