Daily iron ore price update (nothing good)

Friday, 10 December 2021

The ferrous complex was soft on Dec 9, 2021 as all prices eased:

There’s no good news to report. Evergrande has gone bust with a queue of others behind it. Chinese credit is still weak. There is no material rebound in steel output coming over the next quarter, probably half year.

The only thing keeping catastrophe at bay remains coal and power prices, which remain far too high:

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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.