Daily iron ore price update (break out)

Thursday 3 March 2016

Here are the iron ore charts for March 2, 2015:

Spot jumped with Tianjin benchmark up 2.4% to $51.60. Paper broke out. Rebar did too. Reuters has texture:

Some mills in Tangshan city, in China’s top steel-producing Hebei province, are lifting output after a recent rally in prices, hoping the strength will last as construction activity increases, traders say.

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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.