China Lights the Fire

China Lights the Fire (July 8, 2019)

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Chinese steel market sentiment turned on a dime in June and sent prices of both steel and iron ore soaring at the end of the month. Support for local government spending and increasing restrictions on production sent steel prices sharply higher, while iron ore hit new highs as port stocks continued to fall.

So far these measures have mainly impacted sentiment however. The real impact on the market of production restrictions will be revealed this month, while the impact of increased local government spending will be felt more strongly from the autumn.

The question now is, is the rally sustainable or just a flash in the pan?

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China Lights the Fire (July 8, 2019)

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