Daily iron ore price update (steel smash)

Wednesday, 11 November 2015

Here are the iron ore charts for November 10, 2015:

Spot unchanged for both Qingdao and Tianjin at $47.70. Paper faded a little. Rebar has recommenced its descent. If BHP and Vale issue releases soon saying that they’ll make up some decent proportion of Samarco output elsewhere (my base case) then we’re poised for more falls.

And why not? From The Australian:

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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.