Iron ore market ‘gone nuts’ sows confusion
Investors see recent comments from china's leadership as bullish for infrastructure spending
10 December 2019 - 18:41
Iron ore’s surprise surge above $90 (R1,335) a tonne amid optimism on the outlook for Chinese demand has sowed consternation among market watchers, with some questioning the move as prices fluctuated on Tuesday.
“There is a little bit of confusion as to why it’s gone nuts,” Tomas Guttierez, an analyst at Kallanish Commodities, said from Shanghai, commenting after Monday’s 5.2% jump. “I do find it hard to see what’s really changed.”..
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