Iron ore price

The ferrous complex was soft on May 25, 2022: Chinese property sales are still down the drain: The most pessimistic forecasters have these pegged at -20% for the full year and most are still well above that.

The ferrous complex was hit on May 24, 2022: Here’s a take from Barclays that reiterates my views nicely: The impact of higher infrastructure spending on steel demand will be tempered by the weak property market, which has much higher contribution to steel consumption.

The ferrous complex jumped again on May 23, 2022: Clyde Russell is excited: There are still concerns about iron ore shipments from Ukraine, which used to supply about 44 million tonnes a year to the seaborne market, mainly to European buyers.

The ferrous complex was strong on May 20, 2022 thanks to the meaningless PBOC rate cut: MYsteel steel real-time indexes tell the tale: Production is down 8% from 2019, about 130mt of iron ore.

The ferrous complex was pounded on May 18, 2021: Rebar futures are breaking down: With the Chinese property bust getting worse by the day, and supply set to rebound materially, the downside risk is obvious.

The ferrous complex was soft on May 17, 2022 despite wider risk on: No news or research of note today.

The ferrous complex firm on May 16, 2022.

The ferrous complex was mixed on May 13, 2022: Mysteel indexes are still very weak with steel overproduction very clear: Some of this will be export-driven though wider measures of that are also still weak.

The ferrous complex was belted on May 12, 2022: Not much new to report.

It’s material if not as bad as expected.

The ferrous complex was strong on May 11, 2022: The trigger was this: Chinese Premier Li Keqiang urged officials to use fiscal and monetary policies to stabilize employment and the economy as the country reels from Covid outbreaks and rising inflationary pressure.

The ferrous complex was weak again on May 10, 2022: Some chart from UBS nicely paints the picture.

Some commodities are starting to break down but the indexes are still very strong.

The ferrous complex was bashed on May 9, 2022: Data was a very mixed bag.

The ferrous complex buckled a little on Friday May 6, 2022: Weekly Mysteel indicators are still bad: But much worse is in the pipeline.

The ferrous complex was mixed on May 5, 2022: Sadly, CBA has stopped publishing the iron ore spot price so Straya now has no open-source for its most important commodity price.

The ferrous complex was mixed on Friday 30th of April, 2022: But the data remains terrible.

The ferrous complex rallied on April 26, 2022: The CBA is making sense: Commonwealth Bank (CBA) director of mining and energy commodities research Vivek Dhar said the drop came as a result of COVID-19 lockdowns in China and what they could mean for demand of Australian ore.

The ferrous complex was smashed on April 25, 2022: The signals from within China are way beyond poor.

The ferrous complex was soft on April 21, 2022: News is driven by the big three miners: BHP, the world’s largest listed miner, fell short of estimates for iron ore production for the March quarter, as a pandemic-related labour crunch weighed on its efforts to boost production in Australia’s Pilbara region.

The ferrous complex was roughly stable on April 20, 2022: The Chinese economy is in recession.

The ferrous complex was mostly weak on April 19, 2022: The newsflow was poor: The iron ore price fell on Tuesday after a spokesperson for China’s state planner said the country would keep reducing steel output this year.

The ferrous complex rallied modestly over Easter, 2022: Yesterday’s China data dump revealed a few things.

The ferrous complex was down on April 13, 2022: The Chinese economy is in recession.