Daily iron ore price update ($20s)

Monday, 23 November 2015

Here are the iron ore price charts for November 20, 2015:

Tianjin benchmark was down 10 cents to $45. Paper rebounded. The rebar crash accelerated. Chinese iron ore port stocks fell 350k on the week which is not uncommon in a rising trend but if it lasts another week or two will suggest that this round of price deck falls is moving closer the ending.

In news, India is set to scrap iron ore taxes, as expected, from Bloomberg:

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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.