Chinese Industrial Production & Iron Ore
August 25, 2022 Leave a comment
China Industrial Production (CNIPYY) and the price of Iron Ore have a seemingly symbiotic relationship.
I found it interesting (or coincidental) that when CNIPYY spikes or rallies above its 100 week moving average, the price of Iron Ore jumps and peaks.
I think the price of Iron Ore is closer to seeing a low. I’m look for it to touch the $96-$98 mark.
If that occurs, you should see corollaries in Chinese stock indices, the price of Rio Tinto and selected steel companies.
Incidentally, the 10 year average of the CNIPYY has been ~ 11.
August 25, 2022
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 