Daily iron ore price update (big iron bust)

Thursday, 23 July 2015

Here are the iron ore charts for July 22, 2015:

Qingdao eased but Tianjin benchmark was smashed 2.8% to $50.70. 12 month swaps are back at the precipice. Dalian September fell sharply yesterday and more overnight to 376. January was smacked 4% to 349. Rebar average did a total 180 and crashed to a new low. BHP was pummeled -6% in London and RIO -4%.

In news, forget India:

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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.