Daily iron ore price update (calamity)

Thursday, 6 November 2014

Here are the iron ore price charts for November 5, 2014:

Paper markets are forecasting an iron ore calamity within six months. Dalian iron ore futures for May are at roughly $66 (Jan rebounded to $69). The 12 month swap in Singapore is being dragged down with both. Qingdao was smashed to a five year low as well and benchmark hit $76. There is a ray of hope in the ongoing rebar recovery.

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.