Daily iron ore price update (three arrows for three red lines)

Wednesday 30 November 2022

The ferrous complex cooled on November 30, 2022:

Futures missed the Powell spectacular so will probably rise today.

China is also pivoting more decisively out of COVID and throwing all sorts of stuff at property. My best guess at this point is that property sales will be weak through winter and then boom into a spring reopening with pent-up demand. However, I still don’t expect a new expansion cycle.

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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.