Iron ore price

Iron ore is staging a little recovery, just for fun.

The iron crash is here as the bizarre rally in steel prices falters.

The great Simandou cost-curve shakeout has begun, and it is colliding with the Iran War shock, so it will likely get much worse before it improves.

You wouldn’t know it from headline prices, but iron ore is in trouble.

There are loads of articles around today claiming a new iron ore boom as the price moves above $100.

The freight-adjusted iron ore price is still at about $90.

The whacko ferrous rally has come to a shuddering halt as coking coal coughs.

I noted yesterday that Chinese steel output is going bust.

The ferrous complex is trading like Chinese stimulus is flowing like the good old days.

It’s farewell to a radiant world, reports Bloomie.

There’s a little steel squeeze underway in China.

Chinese growth numbers yesterday were awful, as usual. Industrial production (IP) growth slowed to 4.5% yoy in July from 5.3% yoy in June. Fixed asset investment (FAI) growth fell to -12.8% yoy in July from -9.3% yoy in June.

The ferrous complex is enjoying a little bounce.

Pilbara strikes, CMRG shanangins, and a little bounce in steel are giving the ferrous complex a meek relief rally.

The ferrous complex remains stuck in the mid-$95s.

It’s still hovering at maximum profitability.

The ferrous complex remains under pressure amid mounting cross-currents.

Ferrous remains the outlier in the exaggerated dead cat bounce, popping a little without steel support, probably thanks to the Pilbara strike in two days.

Iron ore is teetering at one-year lows along with steel prices.

Iron ore and steel keep on falling.

The bad news starts with China’s official NBS manufacturing PMI: 49.2 in July (GS forecast: 49.9; Bloomberg consensus: 50.1), vs. 50.3 in June. Official non-manufacturing PMI: 49.0 in July (GS forecast: 49.6; Bloomberg consensus: 50.0), vs.

Sometimes you time it with precision.

If you read RIO’s palava, you wouldn’t think so. Q2 sales: 1.6 Mt (100%) shipped to China during the quarter (H1: 2.2 Mt). The first customer collections were completed in April following tertiary crushing in China, with Q2 sales totalling 0.4 Mt (100%) and achieved Fe at 65.8%.

Iron ore continues to struggle despite the Brent tailwind.