Daily iron ore price update (a bad day)

Wednesday, 21 January 2015

Here are the iron ore charts for January 20, 2015:

Singapore 12 month swaps are within a whisker of breaking to new lows. In a curious inversion from last year, Dalian six months futures are holding up better. Spot is flirting with new lows as well. Rebar is in free fall and is the trigger for the next round of iron ore repricing.

According to Clyde Russell of Reuters it’s all the miners fault:

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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.