Steel and iron ore begin 2025 with a whimper

David Llewellyn-Smith

Tuesday 18 March 2025

So much for the ferrous rally.

Chinese Jan/Feb data was not encouraging as steel output fell 1.5%.

Iron ore demand was better with BOF output down only 0.5%.

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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.