Daily iron ore price update (Stern Hu time)

David Llewellyn-Smith

Tuesday, 22 June 2021

The ferrous complex was smashed on June 21, 2021 as steel broke down, paper was obliterated and spot fell sharply:

Much of this is seasonal. The Chinese rainy season is stalling construction and lifting steel inventories:

EOFY adds more downside as mills rebalance.

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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.