Iron ore price update (fade to grey)

Tuesday, 31 January 2023

The ferrous complex returned yesterday:

Steel ouput in early January was ordinary at best:

I do not anticipate the kind of ramp in production we saw in H1 last year. There will be little need as the property rebound remains elusive, infrastructure fades, and global demand remains weak.

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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.