Tariff front running boosts iron ore market

David Llewellyn-Smith

Monday 10 March 2025

China is in the flush of one last steel export surge, up 6.7% year on year for Jan/Feb.

Iron ore fell sharply on supply disruptions. The balance explains the small easing in port stocks of iron ore.

It also helps explain tearaway CISA steel out mid-February.

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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.