Daily iron ore price update (to the moon again!)

Wednesday 19 January 2022

The ferrous complex was to the moon again on January 18, 2022 as everything flew with Chinese stimmies:

I am still of the view that we will see steel demand fall further this year.

As well, China is flooded with iron ore inventory with oodles more to come this year from big miners. Not to mention, steel recycling will increasingly return as power costs fall amid the new coal glut:

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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.