Daily iron ore price update (smashed)

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The ferrous complex was smashed on August 4, 2022:

Late July CISA output was out too and as expected we are free falling into the pit. There was some solace in inventories also falling 13%:

GLJ Research points out the obvious:

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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.