Daily iron ore price update (Simandon’t)

Thursday, 12 February 2015

Here are the iron ore charts for February 11, 2015:

Erosion day with not much to cheer about. I continue to expect to see $50s ahead, and not much rebound after that. Reuters has texture:

“Steel sales are very poor and even if iron ore prices have gone down, most Chinese mills are still incurring losses,” said a 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.