Daily iron ore price update (The Pervanator)

Tuesday, 11 November 2014

Here are the iron ore price charts for November 10, 2014:

Paper markets managed a very weak bounce. Physical slid to another new low, barely. Chinese data flow hots up in the next few days so that will either fire us up or send us lower. I’d still back the latter though there is some hope of better credit statistics given October is the first full month for the great mortgage easing. Reuters has texture:

“Everytime we get to the $77 level and below, it seems to bounce back and that’s what we’ll probably see again today with futures stabilising,” said an iron ore broker in Singapore.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.