Daily iron ore price update (dream over)

Tuesday 15 March 2016

Here are the iron ore charts for March 14, 2016:

Tianjin benchmark fell again 1.1% to $55.50. Dalian reversed all of yesterday’s gains and is still pricing $53 or so spot equivalent. Singapore is still falling. Rebar smashed. The dream is over. Reuters has texture:

Chinese steel mills have raised their output since the Lunar New Year holiday that ended in the middle of February to meet expected peak demand in April and May, traders and analysts have said.

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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.