Daily iron ore price update (real steel)

Wednesday, 11 March 2015

Here are the iron ore price charts for March 10, 2014:

Qingdao weakened but Tianjin benchmark rose 50 cents to $58.50. Paper markets were soft with Singapore 12 month swaps at new record lows. Dalian 6 month futures was also soft and kept falling in overnight trade now almost at a record low as well at 457 as I write. What hit the miners so hard yesterday was a forecast from Citi that prices will fall to $50 in the short term.

Texture from Reuters:

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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.