Daily iron ore price update (big blunderers)

Friday, 23 October 2015

Here are the iron ore price charts for October 2, 2015:

We’re busted. Tianjin benchmark fell 1% to $51.40. 12 month swaps are consolidating their downside break. Dalian is hanging on but only just. Rebar is exactly at its low, which was last seen around 1998. We’re going lower.

In news, it’s all about big mining blunders, from RTT:

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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.