Iron ore on the Chinese treadmill to hell

Tuesday 6 June 2023

SGX iron ore and Shanghai rebar have enjoyed a modest bounce:

As usual, Dalian is more aggressive:

There is still no word on the supposed Chinese property bailout. I don’t expect it to be enough. But, for now, it is enough to trip a steel mill restock of raw materials.

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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.