Daily iron ore price update (CISA)

Here are the iron ore charts for April 30, 2015:

Qingdao spot down sharply and Tianjin benchmark down 70 cents at $56.20. Paper markets remain afire. Dalian recovered yesterday afternoon but was smashed in overnight trading again and now sits down 10 points at 412. Rebar average is still grinding out minimal gains and that brings us to the chart of the day from CISA and it’s updatee of steel mill output in mid April, up 1.6% to 1.72 million tonnes:

That’s a little improvement but is still 1.1% below last year and the year-to-date average remains below that of 2013. We’re entering peak production season so we’ll likely see a decent few months ahead.

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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.