Iron Ore Rally Rolls on as Steel Mills Rebuild Inventories
- By John Tierney
- 2 min read
Summary
- The iron ore rally has continued through the holidays as steel mills rebuild stocks in anticipation of renewed building activity in 2023.
- The rally faces several challenges, including China’s new iron ore buying consortium, rising Covid infections and uncertainty about the zero-Covid policy, and higher imports.
Iron ore prices continued to surge during the holiday season, hitting USD117.50/metric ton recently.
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.