SLX - Have We Already Reached Peak Iron Ore?

Original Post

By Stuart Burns

Copper has been buffeted by macroeconomic and political news, suffering from trade tensions and fear of slowing growth in top consumer China. Conversely, iron ore has been trading at recent five-year highs this month, topping U.S. $130/ton amid reports of tight supply and robust demand. (We wrote last week about the apparent disparity between copper and iron ore price direction in China.)

But a report in the Financial Times suggests what we may be seeing is simply a mismatch of timing.

The relatively well-supplied copper market has shown weakness in

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