Daily iron ore price update (flying anvil)

Tuesday, 17 March 2015

Here are the iron ore charts for March 16, 2015:

Qingdao Spot was up strongly on comments from Premier Li that government can support growth. Tianjin benchmark was more subdued up 20 cents to $58.10. There was nothing new in the comments so perhaps it’s simply a chance to do a little restocking. Paper was similar if less impressed and port stocks show there is little need for any restocking, down marginally in the week.

In news, the WSJ reports on a another reason why Chinese steel production is going to fall this year:

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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.