Daily iron ore price update (stable)

David Llewellyn-Smith

Friday 17 June 2016

Iron ore charts for June 15, 2016:

Tianjin benchmark stable at $50.20. Paper stable. Rebar average has resumed its falls and while that happens will bias everything downwards. Port stocks eased 300mt. We may have one more up-leg before the destock begins.

In news, Samarco is delayed, from Reuters:

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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.