Daily iron ore price update (steel slide)

Thursday, 19 November 2015

Here are the iron ore charts for November 18, 2015:

Tianjin spot was unchanged at $45.80. Paper is still signalling more falls with Dalian down a few more points overnight. Rebar is still in free fall.

There is no end in sight. Indeed, CISA is now forecasting precisely what MB is, a continuation of the current contraction in steel output rates right through next year, from Bloomberg:

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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.