Daily iron ore price update (nonsense returns)

David Llewellyn-Smith

Thursday, 22 November 2018

Iron ore prices for November 21, 2018:

Spot flat. Paper roared. Steel fell again as CISA early November output remains very high. This is killing mills’ margins.

It should see a destock of raw materials and falling prices but iron ore now trades as the perfect counter to any Cold War 2.0 news on hopes of stimulus so whether it comes or not I have no idea.

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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.