Don’t look up at the iron ore comet!

Friday 9 August 2024

Qingdao iron ore fell 1.4% to $96.15 yesterday.

Shanghai rebar futures remain in free fall, SGX is far behind, only guaranteeing it must catch up to restore steel mill profitability:

Dalian is breaking lower:

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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.