Iron ore prices for March 11, 2021, followed the global pattern of rebounding prices as DXY and yields consolidate recent gains. Spot and paper were up strongly. Steel has not updated:
I still expect strong prices through April so this is no surprise.
But, I also still think that this is now a “sell the rally” circumstance.
The ideal outcome might be one final push higher as Biden Administration infrastructure spending discussion warms up before a renewed inflation panic and Chinese slowing in H2 finishes this iron ore cycle off.