Daily iron ore price update (20-handle?)

Friday 4 December 2015

Here are the iron ore charts for December 3, 2015:

Tianjin benchmark fell 0.7% to $40.30 but Dalian was flogged 2% last night setting up bigger falls today. Rebar keeps falling. BHP and RIO were hit for -3.5% each in London.

Not much more to say, really. There is no bottom yet in sight. Every man and his dog is ready for the $30 handle now, from Bloomie:

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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.