Daily iron ore price update (bulls have it)

Friday, 26 August 2016

Iron ore charts for August 25, 2016:

Tianjin spot fell 0.7% to $61.10. Much less than paper which bounced overnight. Rebar rolled. Plenty here to suggest that the physical market remains firm on restocking despite the hysterics of paper markets. We should be looking for some decent falls in steel as the leading indicator for a new iron ore price bust.

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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.