Steel buckles, iron ore next

Tuesday 27 May 2025

Chinese steel futures buckled yesterday, both long and flat.

It doesn’t make a lot of sense to let this happened when you have already mooted the solution of passing the price weakness upstream to iron ore via steel output put cuts.

Chinese growth prospects are hardly shotting the lights out, either. Morgan Stanley.

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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.