Daily iron ore price update (2014 low) (members)

Tuesday 26 August 2014

Here are the iron ore price charts for August 26, 2014:

Paper markets rallied moderately, including rebar futures. Spot has formed a small contango with the 12 month swap, one signal that a reversal maybe at hand. However, it’s tiny so not overly convincing. Prices of port stocks are rumoured to still be falling. The BDI cape is now reversing sharply. Steel First is reporting that both BHP and Rio have closed port berths for maintenance, which may be normal or playing silly-buggers.

Reuters has texture:

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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.