Daily iron ore price update (bearish data)

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The ferrous complex flamed out on January 14, 2022 as everything fell:

It looks like the pre-Olympics restock is sputtering and a slew of bad data landed on the market as well.

CISA output for the first 10 days of January fell back sharply and is down roughly 10% year-on-year. Inventories climbed sharply which is typical for this time of year:

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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.