Daily iron ore price update (doom is at hand)

David Llewellyn-Smith

Tuesday, 21 June 2022

Finally, some reality set in for the ferrous complex on June 20, 2022:

The rout is being led lower by steel prices in China:

I don’t think that it is unreasonable to expect a return to the 3500 range for rebar. To wit:

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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.