Daily iron ore price update (risk cases)

Advertisement

The ferrous complex was firm on June 28, 2021 as spot, paper and steel rallied play Chinese port stocks fell 124mt:

Levels are lowish but not alarming.

Advertisement

Readers will know my base case is that we will see a few more months of strong prices before we start to fall away in Sep/Oct as both the US and Chinese economies slow and the global inventory supercycle comes off. There are risks around the timing of it being a bit sooner or later.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.