Daily iron ore price update (new lows)

Monday 3 November 2014

Here are the iron ore charts for November 3, 2014:

More weak pricing on yesterday’s lousy data. 12 month swap are at new lows. Dalian May is close to new lows (pricing $67) while January was caned 15 points to new lows. Rebar is steady. I’m using Qingdao for spot and benchmark is usually $1 or so lower so we’re on the brink of new lows in iron ore physical as well.

Texture from Reuters:

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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.