Daily iron ore price update (mildly bullish) (members)

David Llewellyn-Smith

Wednesday, 16 July 2014

Here are the iron ore charts for July 15, 2014:

Yesterday I said of predictions of a dramatic recovery in iron ore price:

That’s a contradiction in terms. If there is a dramatic recovery in prices then whatever Chinese ore production that has idled will resume. There is nothing to suggest Chinese growth going gangbusters either. Infrastructure is being boosted to offset weakening property demand. Unless I see a sharp turn in property starts and credit in the next few days of data then the base case remains that Chinese growth will fade again into Q4.

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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.