Daily iron ore price update (erosion)

David Llewellyn-Smith

Thursday 21 July 2016

Iron ore price charts for July 20, 2016:

Tianjin benchmark was unchanged at $55.10. Paper erased yesterday’s losses overnight. Rebar has a long way to fall. Seems there is still a little life in the bubble which will keep the port pile building.

In steel news, CISA released data for the first 10 days of July and it was down 1.2% to 1.74mt per day. It’s still tracking last year:

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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.