Daily iron ore price update (steel resumes)

Monday 4 April 2016

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

Spot firmed with Tianjin benchmark up 1.5% to $54. Paper too. Rebar also. But China port stocks added 2.2 million tonnes in a big break out.

In other news, signs of life have finally appeared in Chinese steel output with CISA fast data jumping 4.7% in mid-March and is now at levels just below last year for the comparable week:

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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.