Daily iron ore price update (falls)

David Llewellyn-Smith

Wednesday 18 December 2013

Here’s the iron ore price table for December 17, 2013:

Rebar futures were also hit. Here’s Dalian six month futures, which are still trading around $120 equivalent:

The key level to watch is $131. Spot has not traded below that since July. If we break through, it’ll likely portend a deeper pull back. The BDI capesize index is getting smashed but from recent highs:

I’m agnostic until $131 breaks.

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.