Daily iron ore price update (pulverised)

Tuesday 1 December 2015

Here are the iron ore charts for November 30, 2015:

Tianjin benchmark fell 1.6% to a new post-GFC low of $42.80. Paper is being burned alive. Rebar did not up date but futures were creamed. Here’s the updated trend fall chart:

At the rate of decline that has been in force since Fortecue launched the mega-glut with its Kings expansion, we’ll be at zero by June next year, $20 by February. Could it go straight down like this?

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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.