Daily iron ore price update (Ding! Fasten your seat belts)

Wednesday, 15 September 2021

The ferrous complex was weak again on September 14, 2021 as spot fell, paper fell further overnight and steel is looking toppy worldwide:

The PBoC tightened futures limits again and Evergrande is going bust. Enough said.

Perhaps more importantly, the China property developer bust is transpiring just as the global post-COVID steel boom tops out. Via GLJ Research:

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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.