Daily iron ore price update (all bets are off)

The ferrous complex was in free fall on September 16, 2021 as spot and paper collapsed. Steel has not updated:

Yes, we will likely be at $100 tomorrow. I was not bearish enough.

There is no end is sight. CISA early September steel output data kept on falling:

And the Chinese property developer shakeout is now an unstoppable freight train of death:

Evergrande is going bust one way or another and that’s going to freeze funding for all developers.

And Australia just added a nice little incentive to keeps it going with its new nuclear subs deal to be based out of WA.

All bets are off for how low and how fast iron ore goes now.

Houses and Holes
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