Daily iron ore price update (ouch)

Friday, 17 October 2014

Here are the iron or charts for October 16, 2014:

Paper markets were very weak. Qingdao too. Some hope for prices remains while rebar rallies but that appears to be related to the Heibei shutdown surrounding APEC. CISA fortnightly output at major steel mills rose slightly suggesting demand is still OK.

Texture from Reuters:

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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.