Daily iron ore price update (stall)

Tuesday 24 June 2014

Here are the iron ore charts for June 24, 2014:

Paper markets faded already. Physical too. The Baltic Dry capesize was down another 3%. No news today but Credit Suisse offers a nice chart illustrating how recent restocking has had virtually no effect on prices:

Seasonal restocking in Q3/4 may not get us much past $100, if we get that far.

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.