Iron ore rocket relaunches

Thursday 25 January 2024

Seasonal tailwinds continue to work for iron ore:

There is better data to work with as well. CISA output has started the year with a pop after the late 2023 crash. Even better, the inventory accumulation is about 4% below last year’s level so far:

The tailwinds now include a stock market panicked PBoC. JPM wraps it up:

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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.