Daily iron ore price (Dalian crash) Updated!

Friday, 27 March 2015

Here are the iron ore charts for March 26, 2015:

Benchmark Tianjin iron ore fell 1.3% to $54.80 a tonne, 60 cents from a new low. Qingdao was a bit better. 12 month swaps are eroding toward their lows and rebar average is tanking but the cake today goes to Dalian 6 months futures which are limit down 5% this morning. It’s a very good bet that all of the above will be at record lows Monday morning.

As well, CISA released its mid March production output numbers for major steel mills and they fell 1.92% from the preceding ten days to 1.64 million tonnes, now running clearly below the comparable month in 2013:

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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.