Daily iron ore price update (short the shit)

Wednesday 2 March 2016

Here are the iron ore charts for March 1, 2016:

Spot launched with Tianjin benchmark up 3.1% to $50.40. Paper broke out. Rebar is stalled. CISA fast data for mid-February steel output actually fell slightly and is now tracking precisely with 2012 volumes over the first two months. Reuters has texture:

Iron ore and steel futures in China climbed to multi-month highs on Tuesday, buoyed by expectations of firmer steel demand in the world’s top consumer from this month.

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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.