Continuing with BHP's observation that the demand lost in China's property market downturn has been more than offset by demand in higher production processes, I note this news over the weekend by Bloomberg:
- Profits at Chinese industrial firms grew at a faster pace in June, showing the resilience of the manufacturing sector which has helped cushion an economic slowdown.
- The increase shows the strength of the industrial side of the economy as a growth driver this year, with a 6% expansion in the first half helping to compensate for weak consumer spending.
Iron ore price, page-53205
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