Daily iron ore price update (restocking)

Monday 26 September 2022

The ferrous complex was mixed on September 23, 2022:

We appear to be going through a restocking impulse pre October’s disruptions of the National Congress and holiday. Suddenly steel output is at records!

I do not expect it to last. Housing starts have far yet to fall. September sales are going to be down 30-40% with little improvement last week:

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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.