Daily iron ore price update (RRR)

Thursday, 5 February 2015

Here are the iron ore charts for February 4, 2015:

A fairly poor day. Benchmark iron ore fell 1% to $61.40. Reuters has texture:

“There is growing willingness from steel mills in taking cargoes for production during the Lunar New Year holiday, especially after port inventories have been falling,” said an iron ore trader in Shanghai.

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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.