The ferrous complex was mixed on August 30, 2021 as spot and paper fell but steel lifted (though that’s a week of price gains):
In news, Andrew Forrest puts the boot into the bears by declaring he “wouldn’t bet against the iron ore price”. I’ll take that bet.
Nothing has changed from last week when iron ore was crashing. China is still stomping on the property sector that comprises nearly half its steel demand. There is still 60mt of new supply coming on in H2.
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