Market Sentiment Soured After Negative Real Estate Investment, But Improved Following Sharp MLF Rate Cuts And Other Policies 

SHANGHAI, Jun 16 (SMM) – The release of macro data this week showed that real estate investment still posted negative growth, thus the market sentiment was poor. On the other hand, China’s central bank cut one-year medium-term lending facility (MLF) by 10 basis points, and the National Development and Reform Commission held a policy briefing, which will prohibit large-scale suspension of production and business, restoring market confidence to a certain extent and supporting the upward trend of iron ore futures prices this week. Some steel enterprises in Qinhuangdao City, Hebei Province, were required to control sinter production to tackle air pollution, but the impact on iron ore demand was minimal.