Iron ore to pump and dump

Monday 25 November 2024

Goldman has the right idea about iron ore in the short-term.

While iron ore stocks at Chinese ports remain elevated as arrivals into China have surged, high levels of consumption could provide temporary support to iron ore prices.

We believe that the counter-cyclical rise in Chinese steel production seen in recent weeks could be a sign of front-loading manufacturing and exports ahead of potential US tariffs next year for two reasons.

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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.