A key barometer for China's economy is shining bright despite the nation's property crisis

• Iron ore, a commodity often associated with growth and economic activity in China, is rallying.
• Sustained demand could mean the nation's economy isn't completely in the dumps.
• Data in recent weeks shows China faces debt, deflation, and key demographic issues.

China's economy may not be completely in the dumps, judging by prices for a key building and manufacturing commodity that often moves on demand from Chinese firms.