Daily iron ore price update (bottom)

Wednesday, 8 April 2015

Here are the iron ore price charts for April 3, 2015:

Tianjin benchmark also rose 1.9% to $47.60. These are smallish moves for a bottom. Paper is also unconvincing with Dalian up 2% yesterday but only up 1 point overnight suggesting flat physical trade today. I do not expect much of a rebound.

Reuters reports in interesting build up in short positions:

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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.