The magazine cover can be a useful contrary indicator. In bad news for the commodity, Bloomberg has discovered iron ore strength:
The one commodity that should be getting hammered by China’s worsening property crisis is actually doing rather well.
Iron ore climbed to its highest in a month last week after a rally that has defied deepening gloom over China’s debt-laden economy. Prices have largely kept above the key $100-a-ton threshold this year despite waves of worrying news from the real estate sector, which in more normal years makes up about 40% of demand.
