Daily iron ore price update (more to come)

Thursday, 11 December 2014

Here are the iron ore charts for December 10, 2014:

More poor price action. Most markets held up but rebar average is now in free air at record lows. So long as it keeps falling the risk of another price attack on iron ore is high. Texture from Reuters quoting Citi:

“However, more pain is expected in January, February, and beyond. Underlying Chinese steel demand is expected to once again weaken and the annual steel restock should be smaller than normal.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.