Daily iron ore price update (US dollar)

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The ferrous complex rolled over yesterday and last night as the US dollar rallied. Spot was up a little but paper fell overnight. Steel has not updated:

If the US dollar advances from here on strong US jobs then expect iron ore to have peaked and fall away earlier. It is a factor after the rise of Dalian paper markets.

Not much in news but a few charts from GavKal. First, I have noted many times the strange gap in recent times between strong sales and weak starts for property. Most recently, this has come about because of China’s new “three red lines” policy that aims to deleverage big property developers:

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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.