Daily iron ore price update (I don’t think so)

Tuesday, 17 August 2021

The ferrous complex was mixed on August 16, 2021 as spot edged up, paper fell overnight and steel puked:

The weak Chinese data was alarming for ferrous inputs. The slowdown underway in China is being led by construction and steel output:

On the day, the ferrous market managed to make a play for bad news being good news in the expectation of more stimulus but I don’t think so.

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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.