Iron ore opens its jaws

Monday 13 January 2025

Friday’s Chinese yawnulus was greeted by another bounce in iron ore but the reality of it is better reflected in flatlined rebar futures.

Chinese steel prices are sinking fast and given there is a lot of frontrunning of tariffs going on it bodes poorly for underlying demand soon.

CISA confirmed a soft end to 2024 output as well:

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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.