Daily iron ore price update (rally)

Monday, 10 July 2017

Iron ore price charts for July 7, 2017:

Tianjin spot was up 80 cents to $62.10. Paper firmed Friday but fell overnight. Steel is stalled. Coals too. Chinese iron ore ports stocks fell 1mt to 139.3mt last week. I expect the recent price rebound will see them rise again from next week.

No change to outlook. Banana Man will be finished when he’s finished, then down.

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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.