Daily iron ore price update (coal cools)

Tuesday, 5 April 2022

The ferrous complex continued on its merry way higher on April 4, 2022:

Chinese markets were shut for the Qingming Festival but that couldn’t stop spot.

I am no less uncertain about the underpinnings of this rally today. China looks to me to be entering a recession. All of Eurasia, in fact, and the US is every chance of following.

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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.