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    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Takeaway: To quote Hedgeye senior macro analyst and Asia wizard Darius Dale, “lots of red indeed.”

Click to enlarge image below.

Refreshed, China Property Market Monitor - q1

Copper Inventories

Inventories of copper and iron ore have moved in different directions. Chinese metal-for-credit schemes may be complicating the data. The expected copper supply growth in coming years appears significant, although prices have firmed since March, in part due to inventory trends.

Refreshed, China Property Market Monitor - q2

Iron Ore Inventories

Seaborne iron ore prices continue to decline, reaching the lowest levels since 3Q 2012.

Refreshed, China Property Market Monitor - q3

Chinese Construction Materials

Nominal China Rebar prices have hit a 5-year low, which is likely not a positive sign for construction activity.  

Refreshed, China Property Market Monitor - q4