Daily iron ore price update (bad news is good news again?)

Tuesday, 6 July 2021

The ferrous complex was strong on July 5, 2021 as spot firmed, paper went nuts and steel lifted:

Reports suggest that this is owing to more steel output after the 100 year CCP birthday party:

“As Tangshan resumed production, short-term demand will return to pre-centenary level,” analysts at SinoSteel Futures wrote in a note, adding that overall demand was still weakened by steel cut policies.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

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.