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The ferrous complex was mixed on November 19. 2022:
The rally continues despite the wider markets pause. This is a classic seasonal restocking pattern, triggered by the hope of Chinese reopening.
However, the wall of worry is mounting fast. Property is still getting worse in the background and COVID is more of a problem than solution in the short-term:
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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.
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