Daily iron ore price update (party time)

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The ferrous complex was mixed overnight but it is once again party time for iron ore as strong seasonals combine with a falling DXY to deliver a surge in prices. Spot roared. Paper too. Steel fell:

CISA early April production data was out was firm:

It appears we might give new post-2011 high prices a shot here before we come apart in May.

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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.