Daily iron ore price update (boom!)

Monday 12 October 2015

Here are the iron ore charts for October 9, 2015:

Spot flat though Tianjin benchmark caught up 1.3% at $55.60. Paper firm but Dalian came off 5 points Friday night from a strong day. Rebar bleeds on.

There is nothing to get excited about here unless you are short. The mad and bad mining rally is doing bugger all for iron ore. Indeed, it’s going to get worse. From ET:

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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.