Daily iron ore price update (free fall begins)

David Llewellyn-Smith

Thursday 27 October 2022

The ferrous complex is at new post-COVID lows today:

CISA mid-October data showed up a clear peak in output:

Inventories fell so underlying demand is still OK. This is what happens when mills are losing money. They destock:

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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.