Daily iron ore price update (green gusher)

Monday, 29 March 2021

The ferrous complex was strong Friday. Spot iron ore lifted. Steel had a very strong week. Iron ore paper surged Friday night:

In news, it’s all about greening:

China’s iron ore supply is expected to be abundant, as demand will decline with Beijing’s steel output cut while supply may incline among the overseas miners, Wang Yingsheng, deputy secretary general of China Iron and Steel Association (CISA), shared on March 25 at the 2021 International Iron Ore Market Seminar in Qingdao, East China’s Shandong province.

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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.