Daily iron ore price update (the correction has begun)

David Llewellyn-Smith

Friday, 30 July 2021

The ferrous complex was weak on July 29, 2021 as spot fell sharply and paper more. Steel has not updated:

In my view, the correction has begun. These are unseasonal price falls and the headwinds are mounting fast.

There are three reasons. The first is regulatory, via Bloomie:

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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.