Daily iron ore price update (dead cat)

Wednesday 8 June 2016

Iron ore charts for June 8, 2016:

Tianjin benchmark fell 0.4% to $52.10. Paper flamed out and eased a little overnight. Rebar average did OK yesterday but is exactly ripping away. I expect that we’ll return to price erosion henceforth.

In news, pellet premiums are confirming just that, from Platts:

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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.