Daily iron ore price update: arse gone (members)

Friday, 22 August 2014

Here are the iron ore charts for August 21, 2014:

The arse has fallen out of paper markets. The 12 month swap is in free fall. Dalian six month futures are in free fall. Rebar futures are in free fall. In some good news, we may all be able to trade Dalian soon:

China’s Dalian Commodity Exchange (DCE) will actively explore ways to realize internationalization of its iron ore futures, including implementation of iron ore futures bonded delivery and introduction of international investors, according to Li Zhengqiang, general manager of DCE.

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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.