The sell-off in iron ore intensified this week as Beijing ramped up efforts to quell price speculation, which it believesby more than 60 per cent since mid-November.
The latest drop came after China’s state planner and the market regulator told some iron ore traders to release excess inventory and reduce stocks to reasonable levels following a joint investigation in Qingdao, one of the country’s largest iron ore ports. “Many commodities have critically low inventories, but there’s no sign of that in iron ore markets – on a seasonal basis they’re way above usual levels, so I would describe that recent rally as speculative in nature, and not justified by the availability of iron ore at China’s ports,” said Robert Rennie, head of research as Westpac.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: FinancialReview - 🏆 2. / 90 더 많은 것을 읽으십시오 »