Iron ore rises into thin air

Saturday 20 April 2024

The latest data on the Chinese property market remains terrible. Via Goldman:

Developers are still frozen out of funding markets and focused on completions, not starts. Excavator hours suggest only more downsides for new project starts:

Steel demand is down big as well. Steel output is awful:

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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.