Daily iron ore price update (accelerating)

David Llewellyn-Smith

Thursday, 18 July 2013

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.

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.