Iron ore ‘scraptastrophe’ scrapped

Tuesday, 5 March 2024

Rebar futures keep on falling, dragging down SGX:

Dalian was down -3% but saved by a late-day ramp:

This volatility is pivoting around “Two Sessions” headlines. The absence of the Chinese Premier is not very encouraging for new exciting new yawnulus:

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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.