L-shaped recovery for iron ore

David Llewellyn-Smith

Monday, 27 February 2023

Spot iron ore finished last week at $126.75. Dalian futures had a good week but flamed out late:

Rebar futures are at 4218 yuan.

The LNY steel restock is well underway with both CISA and MySteel recording decent output and demand:

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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.