from Macrobusiness:Why everyone wants to catch the iron ore falling knife is beyond my understanding. SHFE is still falling:
Below is the price of iron ore in yuan.
Coking coal below.
Meanwhile, actual signals are going from terrible to disastrous. CISA steel output is now below 2018 for late August:
Steel inventory did tumble 10% so it is likely output will have to rebond some but you can’t characterise this as anything other than spectacularly weak. And steel prices kept falling anyway!
Any lift in the iron ore price will only worsen this as nonexistent profitability deepens losses in steel mills.
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Last
$5.57 |
Change
-0.200(3.47%) |
Mkt cap ! $4.659B | |||
| Open | High | Low | Value | Volume |
| $5.75 | $5.82 | $5.56 | $33.96M | 6.031M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 36014 | $5.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.60 | 6192 | 2 |
View Market Depth
| Last trade - 16.14pm 23/06/2025 (20 minute delay) ? |
| WHC (ASX) Chart |