Iron ore goes loony

Thursday, 18 April 2024

In early April, CISA steel output data fell away as the Q2 peak season was supposed to ramp it up. There is no trend to suggest increases, either:

Nor did steel stockpiles move much, down a meager 0.9%. This is flat year on year, despite output being 9% lower.

This continues the rate of descent in March data in which steel output was down 8% year on year:

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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.