Daily iron ore price update (short Jevons Global)

Thursday 16 September 2021

The ferrous complex was very weak again yesterday as China’s construction hard landing became obvious. Spot tumbled and paper fell more overnight. Steel has not updated:

Worse is still ahead. $100 this year and $60 next with all the risk being to downside for earlier.

Some folks don’t get it. Jevons Global at Livewire:

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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.