With current uncertainly www.commsec.com...evergrande.html?icid=Conta...
following is a snippet from news:
1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution.
2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers.
with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation.
I will be looking for following conditions:
next week if it closes above $16, would give us some hope - OR -
if it goes below $13.50 then next stop would be $11 range.
Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
following is a snippet from news:
1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution.
2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers.
with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation.
I will be looking for following conditions:
next week if it closes above $16, would give us some hope - OR -
if it goes below $13.50 then next stop would be $11 range.
Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
join.slack.com/t/new...kBkv~tBzGHmfcp_DVMGw