Daily iron ore price update (port plunge)

David Llewellyn-Smith

Tuesday, 2 June 2015

Here are the iron ore price charts for May 1, 2015:

Spot has not updated owing to the Singapore market being closed. If Dalian is any guide it’ll be a sharp jump higher tomorrow. The Chinese futures jumped to 436 yesterday and 441 overnight. Singapore swaps are still more sober. Rebar is still dying. Chinese iron ore port stocks sank another 1.4 million tonnes last week.

Texture from Reuters:

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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.