Daily iron ore price update (down)

Tuesday 31 May 2016

Iron ore charts for May 31, 2016:

Spot down with Tianjin benchmark -1.2% to $50.30. Paper stable. Rebar average stable. We’ve reached something of an equilibrium. Price erosion remains my bet.

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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.