Iron ore price

The ferrous complex is following its typical seasonal pattern leading into Lunar New Year.

It is amusing to watch, in the usual dark way, how China keeps promising to decarbonise steel while in actuality pumping ever more carbon.

Steel prices are continuing to show some life. Not so iron ore. CISA steel mill output for the first 10 days of January was strong. However, that is unlikely to last beyond the seasonal rebuild. RIO confirmed strong guidance (though its recent record has been shit).

The iron ore price has lifted in recent days with support from Pilbvara disruptions and daily declarations for yawnulus in China.

Chinese December steel exports continued their strong run at 9.7mt, up 26% year on year, driven in part by tariff frontrunning.

Friday’s Chinese yawnulus was greeted by another bounce in iron ore but the reality of it is better reflected in flatlined rebar futures.

Iron ore spot is hovering around $97 as it chases relentlessly weak rebar futures lower.

I have been hoping that iron ore will get irrational and we are fast getting there as the stimmies metal flies.

Iron ore prices are hovering above $100 while markets are in a neutral position.

You can’t keep a good Pavlovian dog down.

As is so often the case, iron ore is busy killing the golden goose by running away from steel prices.

SHFE and SGX firmed.

SHFE and SGX are range trading.

Goldman has the right idea about iron ore in the short-term.

Steel and iron ore futures are range trading.

In October, Chinese steel production rebounded.

Steel futures are fading away.

Those hoping that Donald J.

Steel futures have not updated.

Rebar held up Friday. While iron ore did not. More Chinese yawnulus. From ANZ. The National People’s Congress (NPC) standing committee meeting concluded with a large-scale debt swap program as we expected.

Stele is going nowhere.

SHFE didn’t panic yesterday.

The Chinese stimulus keeps getting downgraded.