In today’s briefing:
- Iron Ore Prices on Fire on Hopes of China’s Third Plenum
Iron Ore Prices on Fire on Hopes of China’s Third Plenum
- Anticipation of an extensive stimulus package at China’s Third Plenum, aimed at revitalizing the decelerating economy, is driving a rebound in iron ore prices.
- China’s iron ore imports have increased by 7% year-over-year despite a 3% decline in steel output, leading to a buildup in inventories on-shore.
- The convergence of technical signals and seasonal trends in the SGX TSI Iron Ore Index suggests a bullish market stance, highlighting potential profit opportunities.
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