Daily iron ore price update (splat again)

Wednesday, 4 April 2018

Iron ore prices for April 3, 2018:

Tianjin benchmark fell $1.60 to $63.80. Paper fell further overnight. Coking coal is falling less (so far). Chinese rebar inventories have begun to fall as per normal after the early year restock. It’s too early to gauge the pace of the draw down as a measure of underlying demand. China’s March steel PMI lifted into expansion again at 50.6 but given the resumption of output post-Winter that should be taken with a grain of salt.

In news, there’s a few supply issues for high-grade, via Platts:

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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.