Daily iron ore price update (parabolic)

David Llewellyn-Smith

Wednesday, 14 August 2013

Find the iron ore price table for August 13, 2013:

Spot is pouring it on and 12 months swaps have broken out, comfirming the rally:

Rebar continues its rebound as well:

As you can see, it has so much headroom it’s not funny. Rebar futures are going to the moon.

As suspiciously like short-covering that this looks, the longer it goes the more probable it is a new restocking event. The current debate over miner earnings is resolving decisively in favour of upgrades.

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.