Daily iron ore price update (reload)

Thursday 4 February 2016

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

Spot up further with Tianjin benchmark rising 2.1$ to $44. Surely some enterprising young thing must soon declare a new bull market. Paper flat in Singapore but rocketing in China. Rebar flat but futures flying. It’s a short squeeze and if you’re looking for a new entry point for shorts then it is being offered.

Underneath the froth is this, from Goldman via Bloomberg:

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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.