Iron ore breaks down


Dalian is looking decidedly toppy here:

RIO is pumping:

Rio Tinto (LSE: RIO) (ASX: RIO) announced Monday that in Q3 2023, Pilbara iron ore shipments totalled 83.9 million tonnes (Q3 2022: 82.9 million tonnes) and production was 83.5 million tonnes (Q3 2022: 84.3 million tonnes).

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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.