Daily iron ore price update (pass the popcorn)

Tuesday, 12 October 2021

The ferrous complex was nuts on October 11, 2021 as spot launched, paper faded overnight and steel was pretty soft:

I could observe briefly that roughly one-third of the demand for the global seaborne iron ore market is in complete meltdown but nobody is listening so I’ll just make a joke about it and move on.

Sometimes you just have to sit back, relax, and nibble at the popcorn as the madness of crowds takes over.

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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.