Daily iron ore price update (crash)

Wednesday 16 March 2016

Here are the iron ore price charts for March 15, 2016:

There goes the neighbourhood. Tianjin benchmark iron ore crashed $3.80 or -6.8% to $51.70 yesterday, more than wiping out last week’s Twiggy spike. Dalian is now pricing around $50. Rebar has along way to fall. BHP fell -6.5% in London and RIO fell -4%. Reuters has texture:

“The recent rally continues to unwind as a weak Chinese steel market keeps buyers on the sidelines,” ANZ Bank said in a note.

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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.