Daily iron ore price update (stimulus hopes)

David Llewellyn-Smith

Wednesday, 11 February 2015

Here are the iron ore charts for February 10, 2015:

Terrible Chinese data triggered a rally yesterday on stimulus hopes. The data is certainly bad enough to legitimise such. The new data point for the day is CISA fast data for major steel mills which was flat in the last fortnight of January and hasn’t grown at all year on year.

Reuters has depressing texture:

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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.