Daily iron ore price (bounce)

Tuesday, 18 June 2013

No charts today. Will return next week. A solid bounce underway in iron ore, up $1.40 to $115. 12 month swaps broke out of their trading range up a couple of bucks to $112.56. Rebar average and futures were flat.

Not a rocket fuel move but one that could see us through $120 this week.

No news of interest.

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.