Daily iron ore price update (surge)

Tuesday, 19 April 2016

Iron ore charts for April 18, 2016:

Another day, another surge. Tianjin benchmark added $2.40 to hit $59.90. Paper fired again. Rebar average did not update but futures were higher. I do not expect another surge here given $60 has been the point of control but you never know.

In news, RIO and BHP may be set to cut guidance, from the AFR:

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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.