In today’s briefing:
- Iron Ore Tracker (23-Sep-2024): Liquidity in China Provides Relief, Still Bearish Short-Term
Iron Ore Tracker (23-Sep-2024): Liquidity in China Provides Relief, Still Bearish Short-Term
- Iron underperformed the commodity complex, falling 1.2% WoW, vs the average complex performance of 3% WoW.
- PBOC rate cuts have yet to spur borrowing significantly. Despite the seasonal uptick, loan growth has trended negatively.
- We remain cautious till China shows any sign of a pick-up in demand. Indicators like mill margins and property/auto demand continue to be uninspiring.
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