Daily iron ore price update (managed decline)

Wednesday, 22 August 2018

Iron ore prices for August 21, 2018:

Spot down. Paper down further. Steel and coking are crazy. CISA major steel mill output for early August rose 1.6% to 1.94mt per year.

As you can see, steel output is falling away at a pretty good clip versus last year. Despite this, steel inventories are only falling very slowly (with hints of rises in CISA data) and remain materially higher than last year:

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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.