Daily iron ore price update (range trade) (members)

Thursday, 31 July 2014

Here are the iron ore charts for July 30, 2014:

Paper markets retraced, including rebar futures. Physical was up but is going nowhere fast. Likewise the BDI cape was up 5 points and is dancing on the spot. Reuters has texture:

“Mills are still in the market to buy some material although demand is not that big, so the market is still oversupplied,” said an iron ore trader in Shanghai.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.