The iron ore complex was still elevated in trading yesterday, but coking coal futures took a dump as spot iron ore remained bid above the $171USD per tonne level:
Having run at huge levels through much of last year, Chinese steel inventories have corrected to normal levels:
This leaves mills with less scope to manage a tight iron ore market ahead.
Latest posts by Chris Becker (see all)
- Macro Afternoon - January 14, 2021
- Daily iron ore price update (steel reductions) - January 14, 2021
- Macro Morning - January 14, 2021
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Amazed how little interest there is in these posts. Please keep going, it’s hugely important. At some point people will wake the … up and realise what a massive windfall gain this is.
I read the IO articles but don’t comment on IO very often. I am sure lot of others do same.
There is plenty gold on macrobusiness, good to see the guys keep up with coal, fe and steel, I get the most value out of this. Be good to see more reference to scrap pricing as China tries to wean of blast furnaces and move to eafs etc.
one of the reasons I still subscribe
I’m heavy in steel producers specifically green producers