Commodity prices up almost across the board

<p>Kia ora,</p><p>Welcome to Monday's Economy Watch where we follow the economic events and trends that affect New Zealand.</p><p>I'm David Chaston and this is the International edition from Interest.co.nz.</p><p>Today we lead with news commodity prices are on the move up in a serious way.</p><p>But not for iron ore because of central decisions made in Beijing, instructing their steel mills to reduce output. And <a href="https://mp.weixin.qq.com/s?__biz=MzAwNDMzMDQyMg==&mid=2650922800&idx=2&sn=1e9aaf38864199d9d63566f99c730736&chksm=80d8f9e9b7af70ff08dfc8541ac15e58819d3d7c0157c59dd9a5ac9eb19ed612242b476150e7&mpshare=1&scene=1&srcid=0801UzzfRQ769MJWj7enf1Yl&sharer_sharetime=1627802685053&sharer_shareid=a21384792bd2efaf1a040d362eed6460&exportkey=AtjntFC0iEI4v0WCsFdXhtw%3D&pass_ticket=mgBUftJSJ%2BfsYY3Vwya95O%2FKIlXgE%2BU3AKDAei37T%2BjTW9cFA89vAgUjP6sU3A06&wx_header=0#rd" target="_blank"><strong>more cuts are coming</strong></a>. The price of <a href="http://www.dce.com.cn/DCE/Products/Industrial/Iron%20Ore/index.html" target="_blank"><strong>iron ore</strong></a> is now falling, and quite fast. It is down almost -20% in China trade over the past two weeks, and most of that fall in this past week.</p><p>However, the price of other minerals are all on the rise. The <a href="https://tradingeconomics.com/commodity/lead" target="_blank"><strong>lead price</strong></a> is at a 3 year high at US$2424/tonne <a href="https://tradingeconomics.com/commodity/lithium" target="_blank"><strong>Lithium</strong></a> is also at a three year high. Some are at an all-time record high like the <a href="https://tradingeconomics.com/commodity/tin" target="_blank"><strong>tin price</strong></a> at US$35,965/tonne.</p><p>A nine year high was recorded for the <a href="https://tradingeconomics.com/commodity/nickel" target="_blank"><strong>nickel price</strong></a> at US$19,892/tonne. A ten year high for the <a href="https://tradingeconomics.com/commodity/aluminum" target="_blank"><strong>aluminium price</strong></a> at US$2624/tonne.</p><p>Fu