The ferrous complex is nothing flash, that’s for sure.
But tariffs are yet to show much in its steel exports. These are absorbing an extra 100mt of iron ore from the COVID lows.
Iron ore imports are lacklustre but not collapsing.
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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.
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