Chinese property sinks into bottomless abyss

Thursday 18 September 2025

Iron is hovering in some restocking episode. Long steel products enjoyed a hoped-for infrastructure stimmies bounce. Flat keeps easing.

CISA output rebounded in the first ten days of September. Mills are overproducing, with inventories up 5% in the period. More price falls ahead.

Meanwhile, Chinese property will never bottom! Primary prices are down with too much of everything.

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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.