Daily iron ore price update (crunch time)

David Llewellyn-Smith

Monday, 3 May 2021

The ferrous complex cooled off Friday April 30, 2021 with spot down, paper down more but steel firm:

We are into the May seasonal price falls now. Expect a 10% correction or so before we rebound through later June for a few months.

However, the larger cyclical slowdown is also coming. Last week’s PMIs gave us a glimpse, via Capital Economics:

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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.