Original article by Joanne Tran
The Australian Financial Review – Page: 23 : 2-Nov-23

Citigroup says there is potential for the Chinese government to provide further support for the nation’s property sector, after policymakers recently issued an additional one trillion yuan ($217.8 billion) worth of central government bonds. The firm contends that the iron ore price could rally if China pursues further stimulus in order to "engineer" a strong start to 2024. Citi has upgraded its short-term price forecast for the steel input from $US100 per tonne to $US120/tonne, but adds that further Chinese stimulus measures could see it test the $US130/tonne level by the end of 2023.

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