Iron ore lower overnight – China steel moves, property sector woes cited


The Australian dollar is not much fussed over lower iron ore overnight, its not too far from its NY session highs.

Iron ore fell again, China’s moves on steel (this posted earlier in the week, and this a day later) weighing on the price. Also, the property sector is prompting concerns once again in China, authorities there urged the cities of Yinchuan, Xuzhou, Jinhua, Quanzhou and Huizhou to stabilise their property markets with stronger regulation. The property / real estate sector is a large consumer of steel (circa 30%) in China (and hence iron ore). 

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