One iron ore mystery solved

Thursday 27 April 2023

There has been a mystery in the iron ore market for a few months now. (No, not Gotti’s stuff). It is that private indexes are showing weak demand for steel but very strong output for the same.

For instance, MySteel:

But, other trackers are showing very strong steel output:

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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.