The ferrous complex was weak on July 8, 2022:
There is nothing good going on in Chinese steel:
China’s steel mills are sounding the alarm over crisis conditions in the industry as margins plunge due to weak demand.
Daily iron ore price update (stimulus my butt)
David Llewellyn-Smith
Monday 11 July 2022
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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.
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