Daily iron ore price update (stark raving mad)

Tuesday, 19 October 2021

The ferrous complex was weak again on 18 October, 2021 as spot, paper and steel all fell:

The odd man out was coking coal which is caught in one the craziest bubbles I have ever seen:

So far as I can tell, this is purely owing to sympathy with thermal coal. Steel output has collapsed 20.3% in four months in China:

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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.