Daily iron ore price update (supply and lot’s of it)

David Llewellyn-Smith

Thursday, 6 July 2017

Iron ore charts for July 5, 2017:

Tianjin spot was unchanged even as paper fell. Steel has not updated. Coking coal rolling. Thermal holding. Steel too.

Looks like the Banana Man rally is at least hitting turbulence. As said, given the hysteria driving it all I won’t call the top but with oil rolling it’s facing stiffening headwinds.

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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.