Daily iron ore price update (India)

Monday 2 November 2015

Here are the iron ore price for October 30, 2015:

Tianjin benchmark added 1% to $49.50. It under-performed the paper rebound and Dalian came off slightly to end Friday night 362. Rebar is stalled. Chinese port inventories continued to rise last week up another 80k tonnes. So long as port stocks rise the spot price is in jeopardy of further falls as price weakness appears the result of oversupply not destocking.

In news, India is on the move, from Reuters:

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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.