Daily iron ore price update (quick and violent)

The ferrous complex flamed out on January 13, 2022 as Chinese property hit the kids:

Is that it? Who knows! What we can observe is that the recent bullish hysteria will have nicely bloated the holdings of speculators and steel mills even as the demand outlook doesn’t improve at all and we head into both a major output stall coinciding with the Winter Olympics plus the resumption of 120mt of idled scrap steel production equivalent to 20% of Chinese iron ore demand.

There are 667 words left in this subscriber-only article.

Get your first month for $1

Comments are hidden for Membership Subscribers only.