Daily iron ore price update (fellow traveler)

Tuesday 22 March 2016

Here are the iron ore charts for March 22, 2016:

Spot up again with Tianjin piling on 3% to $58. Paper too. Rebar yep. Still a little ways to go before the speculative frenzy ends:

The chart is a few weeks old but shows you how short traders were caught of steel. Once they’ve restocked, the rally is caput. Here’s a fellow traveler from Metal Miner:

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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.