Daily iron ore price update (meh) (members)

David Llewellyn-Smith

Monday, 11 August 2014

Here are the iron ore charts for August 8, 2014:

More pin head. Paper markets were weakish, especially Dalian six month futures which appear to be reforming their epic downtrend. Rebar futures rolled too.

Physical was stable with rebar average off a bit, and the BDI cape up a bit. Some will draw succor from the 850k tonne draw down in Chinese port stocks for the week. It’s better than rises, yes, but the levels are still huge.

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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.