Daily iron ore price update (calm restored)

Friday 21 May 2021

The ferrous complex found a bottom yesterday as DXY fell and politics calmed down. Spot fell further. Paper stabilised. Steel has not updated:

Not much in news but UBS has produced a note that looks at China’s options to trash Aussie iron ore:

China is concerned about surging commodity prices but what can they do?

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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.