Nothing shocking in the numbers. Slowdown in data still in effect, although it moderated in most cases.
November SOE fixed asset investment as a share of total FAI was the third highest percentage in 2017. It was only one of three months that exceeded 37 percent. (The low was 35.2 percent in March.)
All data from NBS or PBoC.
Iron ore rally overshot
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The iron ore bear market rally needs a new spur as steel and margins stall:
Dalian futures likewise look toppy: And coking coal: Steel output is still
ri...
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