Daily iron ore price update (fog)

The ferrous complex was soft on March 29, 2022:

Chinese authorities have resumed their operations with Dalian hiking transaction fees again.

However, for the time being, all that matters is the fog around Ukraine and OMICRON which may support prices until we get greater clarity. Against that, the Chinese PMIs will probably show more weakness.

Coking coal has begun to deflate:

But I’m not expecting any great downside in the steel inputs until the fig clears around China and Russia. Whenever that is, I expect prices to fall with weakening Chinese growth.

Houses and Holes
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