Daily iron ore price update (steel peak)

David Llewellyn-Smith

Wednesday, 22 June 2016

Iron ore charts for June 21, 2016:

Tianjin benchmark was little changed up 0.2% to $50.70. Paper is trying to rally but there’s no underpinning for it. Rebar is still sliding slowly. The next big move is down.

CISA released its early June steel production numbers and they fell -2% to 1.74mt per day, confirming that the shortage is passed and that price pressures are now the focus.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.