Daily iron ore price update (Ironic Goldman)

Wednesday, 27 July 2022

Ferrous markets were strong on July 26, 2022:

It’s all a bit silly now. Steel is up 2% and iron ore 18% since the Chinese realty bailout fund news. This will only intensify the steel crisis in China and kill the rally in short order.

Goldman has some ironies:

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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.