Rebar futures hint at further falls for iron ore

Thursday, 14 March 2013

The rebar futures market is open in China and it’s not pretty with prices getting slammed across the curve:

All of the 2013’s gains are now gone and most of December’s as well:

By contrast, iron ore is still $10 above where it was on the same date. It will be a very brave commodity indeed if it holds up today.

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.