Iron ore keeps falling

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The ferrous complex remains weak despite an overnight convulsion.

Led by steel prices is bearish. Bloomberg.

Some mills in Tangshan had received notices to restrict sintering machines by 30% from late August to early September, while other plants had been ordered to cut blast furnaces by 40%, according to a survey of 21 mills by consultancy Shanghai Steelhome E-Commerce.

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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.