Daily iron ore price update (paper slaughter)

The ferrous complex was hammered again on February 14, 2022:

I’m not sure why spot has disconnected from paper but that never lasts long.

The bearish fact of the day is this:

Excavators sales are an excellent leading indicator for steel demand.

Iron ore is a speculative bubble. Fundamentals are equivalent to under $100 and falling.

Houses and Holes

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