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Here are the iron ore price charts for March 17, 2015:
Not pretty for spot though Tianjin benchmark was a bit better down 50 cents to $57.60 also a new low. Worse, the Dalian closing price is out of date already with overnight trade tanking 10 points to 443 as I write. The rebar rebound carries on around seasonal hopes. Texture from Reuters:
That hope along with anticipation of a seasonal pickup in construction activity as the weather gets warmer fuelled a rebound in steel prices from last week’s record lows.
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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.
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