Daily iron ore price update (rates)

Monday, 23 May 2022

The ferrous complex was strong on May 20, 2022 thanks to the meaningless PBOC rate cut:

MYsteel steel real-time indexes tell the tale:

Production is down 8% from 2019, about 130mt of iron ore. 100mt of that is accounted for by steel recycling being offline.

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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.