Daily iron ore price update (modest rally)

Friday, 2 December 2022

The ferrous complex continues what is a pretty modest rally:

Iron ore probably has more upside ahead as the US dollar fades and seasonal tailwinds kick in.

The iron ore price is up by a third or so in recent weeks but in raw price terms, but this is still pretty modest stuff. Usually, when China stimulates we’d expect to fly towards $150 and higher.

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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.