Daily iron ore price update (steel sink)

Wednesday, 22 April 2015

Here are the iron ore charts for April 21, 2015:

Spot fell and so did paper though Dalian rallied back to 389 overnight. Texture from Reuters:

“Mills are trying to limit their raw material stocks to as low as possible. This way they can keep their cost at current market level and guarantee their small profit from steel sales,” said an iron ore trader 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.