Daily iron ore price update (real gold)

Tuesday, 16 April 2013

Find below the iron ore price table for April 15, 2013:

So, the miracle commodity keeps its head when all around it lose theirs. That’s real gold for ya! Several reasons might be posited:

Chinese growth was not so bad yesterday and credit suggests Q2 will be better
market internals with some restocking action after the recent lull

Either way, there’s clearly not much froth in the iron ore market right now. Iron ore equities should bounce today as the broader market gets pounded.

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.