Daily iron ore price update (life of a thousand cuts)

Monday 10 October 2022

The ferrous complex reopened with a bang on October 10, 2022:

CISA output eased back in late September but remains elevated and inventories sank 10% over the period as well so clearly demand is in a bright spot for now as infrastructure spending flows:

There were a bunch of positives for the supply side too with COVID issues in Mongolia lifting coking coal; Kumba warning of minor volume impacts from an SA rail strike; BOM warning of Pilbara flooding and falling Chinese iron ore port stocks.

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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.