Daily iron ore price update (rebar flameout)

Tuesday, 11 August 2015

Here are the iron ore price charts for August 10, 2015:

Spot markets are closed. Paper is going sideways. The rebar rally has flamed out. We’re getting set to go lower as the Beijing parade shuts Hebei steel output from August 20.

Not much in news but a little scuttlebutt around RIO, from Fairfax:

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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.