Iron ore’s price bounce may be based on more than just China hopes. mining China
Worker repairs mechanical parts in the production workshop in Tangshan city, Hebei Province, China. Stock image.
China’s real estate investment was 8.0% lower in the first nine months of the year than a year earlier, while property sales by floor area declined by 22.2% in the same period, according to official data released on Oct. 24. But it’s also likely that iron ore’s recent rally is still largely built around changes in market sentiment, rather than actual changes in steel demand.
China’s steel output rose to a three-month high in September of 86.95 million tonnes, which was up 3.7% from August’s 83.87 million, according to official data released on Oct. 24.
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