Daily iron ore price update (slapped upside the head)

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The ferrous complex flamed out on February 9, 2021:

Is this the end? There is nothing fundamental in these prices so it’s impossible to know. What we can say is that given it is mostly sentiment-driven, the bid may be vulnerable to attacks on sentiment, such as this:

Iron ore futures slumped from a five-month high after Chinese regulators warned information providers against false price disclosure.

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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.