Daily iron ore price update (crack)

David Llewellyn-Smith

Wednesday, 23 September 2015

Here are the iron ore charts for September 22, 2015:

Spot and paper cracked lower. Tianjin benchmark is registering unchanged but my guess is that that is a failure to update. Rebar is still bleeding. Looks like more weakness ahead to me, from Reuters:

“There has just been no pick-up in demand at all recently and the market is still very cold,” said a sales manager with a steel mill based in the city of Tangshan in Hebei province.

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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.