Daily iron ore price update (new lows everywhere)

Tuesday, 20 October 2015

Here are the iron ore price charts for October 19, 2015:

Spot down as Tianjin benchmark fell 0.2% to $52.50. Paper is bleeding lower and Singapore 12 month swaps hit an all time low but not by much. Rebar is just 10 points above its record low and futures plunged into new unexplored territory yesterday. We’re going lower here, perhaps some port restocking first, perhaps not!

Reuters is reporting that Sino Steel has achieved some short term extend and pretend:

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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.