In today’s briefing:
- Iron Ore Tracker (25-Nov-2024): Waiting For Incremental Catalysts
Iron Ore Tracker (25-Nov-2024): Waiting For Incremental Catalysts
- Iron ore prices were rangebound and maintained at over 100 USD/ton. In the last four years, they have been in a 95-130 USD/ton range.
- China TSF (Total Social Financing) disappointed the street with 1.4 trillion RMB (-24% YoY), compared to the street estimates of >1.5 trillion RMB.
- We believe that more significant lending numbers would catalyze the iron ore price, but till then, iron prices will remain stagnant at the 100 USD/ton level.
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