Daily iron ore price update (the blowoff)

David Llewellyn-Smith

Monday, 26 April 2021

The ferrous complex went nuts on Friday 23 April, 2021 with spot higher, paper flying and steel powering on:

CISA mid-April steel output was still crazy:

China efforts to sit on the market have completely backfired now. All output curtailments have done to skyrocket prices and margins and raw materials are now following. They never learn.

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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.