Iron ore meteor hurtles towards doom

Tuesday, 2 April 2024

Over Easter, iron ore was smashed, then short-squeezed higher to remain virtually unchanged. Rebar prices are still falling:

Dalian was a mess:

This is now purely a trader’s market as fundamentals impose lower prices to high marginal cost curves punctuated by squeezes.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.