Daily iron ore price update (smash, UPDATED)

Thursday, 20 November 2014

Find below the iron ore charts for November 19, 2014:

Benchmark iron ore price also fell 2.9% to $70. With steel price now tumbling as well post APEC there is another reason for mills to keep destocking raw materials. For those looking for a market turn, paper usually turns up first and at this point it’s not happening. Everything is chasing Dalian futures down, which are now pricing roughly $61 by May.

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.