Ferrous Tracker_ Stimulus Announcements Provide Near-Term Price Support, But Currently Higher Prices May Widen Surplus
ray dalio·2024-10-07 16:08
3 October 2024 | 5:04PM BST _ Ferrous Tracker: Stimulus Announcements Provide Near-Term Price Support, But Currently Higher Prices May Widen Surplus n The iron ore 62%Fe index hit $108/t on Monday (30 September) as China entered the Golden Week holiday, up 21% from the beginning of last week. Multiple China stimulus announcements have driven the financial rally, with aggregate open interest on iron ore and China steel markets (previously very short) falling substantially in recent weeks. n For now, the stim ...