Daily iron ore price update (fading glory)

Monday, 18 October 2021

The ferrous complex was weak on October 15, 2021 as spot eased and paper tanked overnight:

The market is in a state of enormous and growing oversupply. It has to rationalise big quantities. That will take $60 just to get it underway.

Unless something else changes.

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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.