Daily iron ore price update (wood chopping)

Thursday, 28 May 2015

Here are the iron ore price charts for May 27, 2014:

More firm spot and even a slight new high. Tianjin benchmark is up as well 50 cents to $62.60. 12 month swap are still mired. Dalian futures fell one point overnight. Rebar average has stopped falling for now.

Nothing new. More wood to chop as the restocking rolls on. A quick hat tip to Citibank who is the first outfit other MB to finally discover this chart:

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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.