Daily iron ore price update (catastrophic)

David Llewellyn-Smith

Wednesday, 13 October 2021

The ferrous complex was catastrophic on October 12, 2021 as spot was smashed, paper eased and steel was thumped:

Oddly, spot traded off crashing Singapore futures rather than a calmer Dalian. Anything seems possible these days.

The underlying conditions are extraordinary. CISA’s late September output cratered 11% to lower output than 2013:

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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.