Daily iron ore price update (rip)

Wednesday 29 July 2015

Here are the iron ore charts for July 29, 2015:

Spot rocketed with Tianjin benchmark surging 5.9% to $55.30. Paper too. Dalian is up again overnight another 5 points to 371. Rebar average is driving it with its sharp rebound though it is still at 2003 levels.

Let’s dig into this with some bonus charts from JPMorgan. First, falling steel mill utilisation rates:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.