Daily iron ore price update (no idea)

Wednesday 9 February 2022

The ferrous complex was all over the place on February 2, 2022:

I’m not going to pretend that I have any idea what is going on. On fundamentals, the price should be well below $100 and falling.

I will note only that despite oodles of coal in China and everywhere else, and fading growth prospects, deescalating tensions in Ukraine, Iranian oil deals and falling global gas prices, thermal coal is off and running again:

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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.