Daily iron ore price update (no cigar)

Tuesday 23 August 2022

The ferrous complex tried but largely failed to rally on August 22, 2022:

Yesterday’s China stimulus announcements are a drop in an increasingly stormy ocean. Chinese property starts have much further to fall on the latest sales numbers:

The impact will be in everything steel:

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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.