Daily iron ore price update (inevitable)

The ferrous complex was down on April 13, 2022:

The Chinese economy is in recession. Iron ore imports are down 15% YOY in March at levels first reached 6 years ago:

Steel exports are also weak:

Ferrous complex prices are being held aloft by a combination of Urkaine fears and inflation panic in markets. Underlying demand and supply have little to do with it.

If the latter starts to overwhelm the former then a large downward price adjustment is inevitable.

Houses and Holes
Latest posts by Houses and Holes (see all)

Comments are hidden for Membership Subscribers only.