Daily iron ore price update (lurching price deck) (members)

Tuesday, 26 August 2014

Here are the iron ore charts for August 25, 2014:

Ugly. Paper markets all hit new record lows, including rebar futures. Physical is now falling in simpatico. Texture from Reuters:

“When the price drops this fast, Chinese mills tend to wait and see and buying activity could slow down. Supply is still huge and we see various offers from miners, big mills and traders,” said an iron ore trader in Shanghai.

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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.