Daily iron ore price update (rebound)

Wednesday, 23 June 2021

The ferrous complex rebounded on June 22, 2021 as fears of Fed tightening abated. Spot popped. Dalian firmed overnight but steel has not updated:

Nothing much to report today.

I still see firm prices for a few months then a breakdown in Sep/Oct followed by better across the new year but trending down deep into 2022.

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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.