Daily iron ore price update (India unleashed)

Tuesday 1 March 2016

Here are the iron ore charts for February 29, 2016:

Tianjin benchmark spot fell 0.2% to $48.90. Paper ripped last night on the Chinese easing. Rebar faded. I still think the top is in. Reuters has texture:

Sustained gains in Chinese steel prices may help strengthen iron ore prices as improving margins push steelmakers to increase production, said Helen Lau, analyst at Argonaut Securities in Hong Kong.

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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.