Iron ore price update (short)

Monday 13 February 2023

The ferrous complex was firmly sideways last week:

There are some signs of life post-reopening and LNY in MySteel indexes though it is hard to extract the reality from the LNY noise:

However, I have been forced to revise down my already conservative outlook for property starts. There is no sign of any recovery in property sales:

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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.