Daily iron ore price update (crunch)

Monday 12 September 2016

Spot has not undated today. Paper is aflame. Rebar has rolled. Today will see the August China data update so that could provide a short term circuit breaker. I expect a modest bounce back from flood-disrupted July data but not much. The trend has been towards slowing growth since April and that will deepen in Q4. More losses for iron ore are ahead, down to mid-to-low $40s through Q4.

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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.