Daily iron ore price update (temp tight)

Thursday, 4 June 2015

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

Qingdao iron ore managed a new high yesterday despite paper market pullbacks but momentum is easing. Tianjin benchmark also hit a new high at $62.60, up o.8%. Dalian fell last night to 436. Rebar bounced a bit but it is a severe overstatement to say that it is convincing. All major miners were down sharply in London.

The news flow remains the same, 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.