Daily iron ore price update (hope delayed)

David Llewellyn-Smith

Monday, 2 March 2015

Here are the iron ore charts for February 27, 2015:

Spot up marginally but paper markets down sharply. Benchmark rose 50 cents to S63. Note, as well, the CISA production figures for Chinese steel in the first third of February, before the holiday, down 3.6% from January. Reuters has texture:

“Construction activities have not started yet. And a weak property market could continue to weigh on steel demand in the first half of this year as smaller cities are still facing high pressure digesting housing inventories,” said Li Wenjing, an analyst at Industrial Futures in Shanghai.

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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.