Daily iron ore price update (China reaches for the revolver)

Wednesday 23 February 2022

The ferrous complex tumbled on February 22, 2021:

The big news is this:

China is escalating its intervention into iron ore markets by reportedly setting up a single, state-backed platform for purchasing the bulk commodity in a move that could have far-reaching implications on Australia’s top export and its producers.

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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.