Copper, Iron Ore Forecast: No Major Pump from China Data Dump

From forex.com

China’s “data dump” delivered mixed news for industrial metals. Home prices stabilized, industrial output breezed past expectations, but the downturn in the property market—a key source of commodity demand—showed a slight acceleration. New home prices eased just 0.08%, marking the smallest monthly decline in 18 months. Falls in existing home prices also slowed to 0.31%, according to Bloomberg calculations. Industrial output was the standout, growing 6.2% over the year versus forecasts for 5.4%. Within that, crude steel output surged 11.8% relative to December 2023, although total output fell 1.7% over the ... (full story)