Iron ore price weakness returns

It’s not been much of a bounce so far. Here’s yesterday’s ore score:

That’s some ongoing carnage in Chinese steel prices:

More forells ahead it seems.

David Llewellyn-Smith
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  1. I still sez that this will ultimately go hand-in-hand with slowing – if not actually falling – global energy demand, with the result that the entirety of the world’s biggest ever LNG mega-complex here in Gladstone will not come to fruition. Regardless of any long term contracts.

    History is littered with broken contracts anyway.