Daily iron or price update (run RIO, run!!)

Tuesday, 2 December 2014

Here are the iron ore charts for December 1, 2014:

Mixed markets. Paper sold after its brief bounce. Physical looks firmer with spot holding much of its gains and port stocks dropping 1.7 million tonnes on the buyers strike. However, levels remain absurd. The bleed in rebar average is a concern. Texture from Reuters:

Demand for spot iron ore cargoes in China was lean as winter slows construction activity, trimming steel consumption, traders said.

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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.