Daily iron ore price update (bleeding stemmed)

Wednesday 22 June 2022

The ferrous complex stemmed the bleeding on June 21, 2022:

I maintain that we have a lot of downside ahead as the global economy stalls into recession but we should note that there is a strong element of seasonality in recent moves as well.

June is the peak hot and wet season in southern China and it usually inhibits building:

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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.