Iron ore's short-term outlook at odds with longer optimism: Russell

LAUNCESTON, Australia, Aug 18 (Reuters) - Iron ore is a market where the short-term outlook is markedly more bearish than the longer-term view, which may fuel volatility in the price of the steel raw material.

Both the short- and longer-term prospects for iron ore are driven by China, the world's biggest steel producer and buyer of about 70% of global seaborne iron ore.

The problem surrounding China currently is that it's possible to be both optimistic and pessimistic over the outlook for the world's number two economy, depending on the time frame chosen.