Iron ore defies steel collapse

Friday 8 August 2025

Ferrous market prices are holding as steel output plunges.

CISA has been catching down to cratered offical data in recent months.

Chinese export data for July showed steel exports still going strong, but iron ore imports are down 2.3% year to date despite being up 4.7% in the month.

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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.