Daily iron ore price update (rally done)

Friday 26 February 2016

Here are the iron ore price charts for February 25, 2016:

Spot fell sharply with Tianjin benchmark down 2% to $49.20. Paper is correcting. Rebar was flat. Reuters has texture:

A recovery in steel prices has encouraged Chinese mills to resume production and increase buying of the steelmaking ingredient, driving spot iron ore up 17 percent since the
beginning of the year.

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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.