Daily iron ore price update (out of control)

Monday, 20 July 2015

Here are the iron ore charts for July 17, 2015:

No update for spot or port stocks. 12 month swaps had a better day and Dalian is up another 3 points overnight to 370. Rebar average is poised to drop to new lows.

In news, I’ve lost of how many stories I’ve read since last week telling me that RIO is cutting back production after its weak first half. This has been splendid PR for the big miner in its war against dying junior miners even if the real story is the precise opposite. The FT has the real story:

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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.