Iron ore charts as at 16 January 2014:
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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Daily iron ore price update (the problem manifest)
Iron ore prices were firm overnight as paper
Daily iron ore price update (the great pile)
Iron ore prices fell on February 19th, 2021 as
Australian dollar roars with iron ore
Friday night saw the Australian dollar roar
Daily iron ore price update (and we're off!)
As expected, and as usually happens, following
Still seeing a lot of arguments from analysts that this weakness is merely “seasonal”. But look what happened in the chart this time last year. And every year since spot pricing was introduced. This is the season when steel mills are meant to be producing at full tilt in anticipation of spring, when construction can resume in the frozen North. There is usually also a race to buy iron ore before the cyclone season arrives, possibly disrupting supply.
None of that this year. Market is overstocked with raw materials and steel mills are cutting production.