Daily iron ore price update (Montgomery says $10)

Monday, 13 April 2015

Here are the iron ore price charts for Friday April 10:

Spot corrected as expected but paper is looking a little firmer with the 12 month holding up despite new lows for Dalian. The latter is up 4 points from Friday this morning. The rebar reversion marches on. Texture from London Scrap:

Despite a sharp slump on DCE iron ore futures, which were down by more than 3% on the most active contract, spot iron ore generally remained well bid, as per the Steel Index.

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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.