Find below the iron ore price table for July 17, 2013:
Well, we’re through $130:
And if anything the rally is gaining momentum as rebar comes off its lows:
Although it has to be said, the spread between the two remains 10% out of whack with history:
Such is life during a restock. So long rebar runs so may iron ore. I don;t think we’ve fr to go but stranger things have happened. Nonetheless, the rally is a gift to prospective shorts moving into Q3.
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.
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.
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$130.40 / 0.923 = $141.30 AUD.
Jeez Rio & BHP must be hurting with record volumes at these prices.
Just sayin!
I am grateful for this site providing the update for free. However I would have given more credibility if the article didn’t show the writers personal opinion and wish for the future iron ore price movement.
It seems like just good information with logical opinion to me. It is restocking season and china is slowing and more supply is coming online. I will be looking to short when it turns too.
I’m quite pleased by this. Oh, and I’d say it is a gift of more value to others than shorts!
I’ll consult my crystal ball and come back with more.
So funny to watch the bearishness on this site. Keep digging those heels in.. It has now turned to… Well hey, eventually we’ll be right.
You are a rude person why no argument and excess of accusation and you are now banned.