Daily iron ore price update (Baltic boom)

Friday 27 August 2021

The ferrous complex was mixed on May 26, 2021 as spot lifted but paper fell. Still waiting for steel:

In news, the Baltic Dry is singing about booming supply:

Momentum has been building in the spot market for capesize bulkers for the past week and on Monday it finally happened — average day rates crossed the $50,000 level.

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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.