Daily iron ore price update (smashed profits)

Thursday, 11 February 2021

Iron ore prices for February 10, 2021:

Everything up again but iron ore more than steel and the result is smashed profits in China:

This condition never lasts. Either steel prices will have to rise and they are struggling to do so. Or iron ore prices will have to fall.

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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.