Daily iron ore price update (immensely bearish)

David Llewellyn-Smith

Wednesday 24 March 2021

The ferrous complex dead cat bounced on March 23, 2021 as spot jumped but paper fell away again. Steel has not updated:

Perhaps the worst argument I have ever seen is going to save iron ore, at the AFR:

“This is the start of the boom, not the end,” said Tribeca Global Natural Resources portfolio manager Ben Cleary.

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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.