Daily iron ore price update (cuts)

David Llewellyn-Smith

Tuesday, 28 February 2017

Iron ore prices for February 27,2017:

Spot up. Paper down overnight. Coking coal futures deflating again but still enjoying a huge contango to spot presumably on the assumption of more Chinese mine closures. Steel mill margins are looking good as coking coal deflates.

The trigger yesterday was more mooted steel output cuts, via MB:

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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.