Daily iron ore price update (super cycle)

Wednesday, 22 February 2017

Iron ore prices for February 21, 2017:

Spot at new highs. Paper reversed overnight. Steel is now into super cycle highs and this is its biggest move ever by far. Iron ore has a free pass while it behaves this way. The two coals reversed course as the North Korean ban was taken in stride by the market.

Nothing changed. An amazing market right now. The hottest I have ever seen. Global steel output helps explain it, from World Steel:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.