Daily iron ore price update (Tianjin blast)

Friday, 14 August 2015

Here are the iron ore price charts for August 13, 2015:

Qingdao up solidly and Tianjin rose 0.7% to $56.20. Paper doing little. Rebar average rebounding. Remember that all prices must now be adjusted for the 4.5% devaluation in the yuan so iron ore paper is going nowhere and rebar is falling quite fast. RIO fell 4.5% in London as it went ex-div.

In news, Reuters is maintaining the rage on new Chinese steel export boom:

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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.