Daily iron ore price update (the great divergence)

David Llewellyn-Smith

Tuesday 26 April 2016

Iron ore charts for April 25, 2016:

The spot rocket is falling with Tianjin benchmark down -0.8% to $65, paper was hit solidly overnight suggesting more falls today, rebar powers on in a truly epic moonshot, Chinese iron ore port inventories resumed their climb up 700k tonnes last week.

The great divergence continues as steel outperforms iron ore by a big margin, so big that my iron ore/rebar spread has reached a record:

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.