Daily iron ore price update (volatility)

Tuesday, 4 August 2015

Here are the iron ore charts for July 3, 2015:

Qindao soared. Tianjin too up 4.5% to $55.30. Paper is flat with Dalian receding 2 points overnight. The rebar average bounce rolls on. Chinese iron ore port stocks fell 500k tonnes on the week. With this kind of port tautness, I very much doubt that RIO is currently shipping at promised volumes, deliberate or otherwise. And on that subject, RIO was pounded 2% in London and BHP was hammered 4% as the arse dropped out of oil.

So, where are we? Clyde Russell has an excellent piece explaining the volatility:

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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.