CLYDE RUSSELL: Lack of oomph in iron ore prices despite stimulus from China
China has taken steps to boost its struggling property sector with about $138bn in new property funding
29 May 2024 - 05:00
Launceston — The balance of risks for iron ore prices are tilted to the downside despite top buyer China’s most recent steps to boost its struggling property sector.
A series of stimulus measures announced earlier this month will see up to 1-trillion yuan ($138bn) in new property funding, an easing of mortgage rules and allowing local governments to buy some apartments in order to clear overhangs...
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