Daily iron ore price update (topping process)

Tuesday, 22 February 2022

The ferrous complex boomed anew on February 21, 2022:

There are a couple of short-term bullish factors. Ukraine exports 35mt of iron ore that could at risk. WA is reopening and may have some staffing issues for a month as OMICRON infects all and sundry, though the open border and a resumption of FIFO should prevent any serious labour shortages.

But at these prices, that is all factored in and more.

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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.