Onwards and downwards for iron ore

Saturday 13 July 2024

Shanghai rebar has put in a couple of days of weak bounce off the six-year support line. The jaws to iron ore remain paralysing for steel mill margins:

Dalian iron ore is levitating as well:

Coking coal likewise:

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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.