Daily iron ore price update (miners trashed)

Monday, 30 November 2015

Here are the iron ore charts for November 27, 2015:

The Tianjin benchmark iron ore price fell 10 cents to $43.50. Dalian also fell four points to 303 points after sinking further Friday but rebounding overnight. Singapore is plunging. The rebar bleed-out slowed to a trickle. Chinese port stocks rebound 675k tonnes to 86.75mt.

In news, miners were crushed again with BHP and RIO both down -3% in London. All major global diversifieds are in free fall:

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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.