Daily iron ore price update (2012 steel output)

Wednesday, 16 December 2015

Here are the iron ore price charts for December 15, 2015:

Tianjin benchmark was unchanged at $37.50. Paper fell back. Rebar did not update. CISA fast data for steel mill output in the last fortnight of November fell 0.3% to 1.605 million tonnes per day. As you can see, running solidly below 2012 levels. You might interested (and horrified) to know that Chinese steel output for all of 2012 was 712 million tonnes (mt) versus 823 mt last year. Yes, that’s how weak output is right now on an annualised basis.

Reuters has texture:

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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.