Daily iron ore price update (crash)

Thursday 28 April 2016

Iron ore charts for April 27, 2016:

Tianjin benchmark spot crashed 5.6% to $60.50. Paper flattened out overnight. Rebar’s run is over. It’s anybody’s guess where we go next in this market but given what appears to be an official Chinese commitment to prick the derivatives bubble I’d punt on more pain immediately ahead.

No news today.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.