Daily iron ore price update (bye, bye big iron)

Wednesday 19 August 2015

Here are the iron ore charts for August 19, 2015:

Not much new. Everything eased except Dalian. Tianjin benchmark fell 0.2% to $55.90. The big price development overnight was 4% falls for both RIO and BHP in London, triggered by the Glencore rout (-10%). Both are in technical free fall on their UK charts:

GFC lows beckon and if the Aussie dollar doesn’t resume its decline soon the same is coming to Australian listings.

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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.