Daily iron ore price update (steely boom)

David Llewellyn-Smith

Wednesday, 26 September 2018

Spot eased. Paper firmed overnight. Steel is soft but very expensive. CISA output rocketed in early September nearly 4%. It will be interesting to see inventories going forward. This could be demand brought forward for shutdowns.

Steel growth worldwide is falling fast now:

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes (Mt) in August 2018, a 2.6% increase compared to August 2017.

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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.