Daily iron ore price update (all red) (members)

Sunday 20 July 2014

Here are the iron ore charts for July 18, 2014:

Paper markets had a bad day with rebar futures smashed as well. Physical eased although the BDI cape fell another 1% and is now at its lowest point since the 2012 crash. I repeat, there is no restock coming and the opposite is a reasonable prospect.

No update yet on weekly port stocks.

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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.