Daily iron ore price update (pop!)

Wednesday, 20 July 2016

Iron ore charts for July 19, 2016:

Pop! Tianjin benchmark was only down -2% to $55.10 but the writing is on the wall. Paper was down again. Rebar average too. RIO and BHP were both down -5% in New York. I still see a relatively quick move to $50 then lower in a month or two.

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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.