Iron ore squeezes higher
There’s a little steel squeeze underway in China. It doesn’t make much sense given production is weak. And inventories are high, margins low and exports weak. Order books are poor. Goldman. Orderbook trend: The forward orderbook trend of most steel mills declined MoM in August, and saw weaker than normal seasonality. High-frequency weekly data suggest The post Iron ore squeezes higher appeared…
We haven't written up this one. MacroBusiness has the full story — the link below goes straight to it.