Daily iron ore price update (UBS smash)

Tuesday 6 April 2021

The ferrous complex rose over Easter with spot, paper and steel all firm:

In news, UBS has hit the market with an Easter hammer:

“We expect the iron ore supply to lift in the second half of the 2021 financial year and demand to moderate, resulting in iron ore prices falling below $US100 per tonne in the fourth quarter.”

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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.