Daily iron ore price update (high)

Wednesday, 3 June 2015

Here are the iron ore charts for June 2, 2015:

Spot up firmly though less than Dalian suggested it should be. Singapore 12 month swaps still largely disinterested. Dalian itself is flat overnight at 440. Both Dalian and spot have technically bullish ascending triangle patterns. Rebar slides on telling us fundamental demand still stinks.

Reuters has 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.