Daily iron ore price update (bashed again)

Monday, 14 December 2015

Here are the iron ore charts for December 11, 2015:

The iron ore price for Tianjin benchmark was bashed lower 1.3% to $37. Dalian futures rose to 287. Rebar keeps sinking. Port stocks rose 950k tonnes. BHP was crushed 5.3% and RIO 4.3% in London. No end in sight to price falls.

In news, panic has returned for the marginal cost producers, led once more by the colourful Andrew Forrest whose FMG is now losing 450 million dollars per year, 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.