Daily iron ore price update (Phat Dragon)

Tuesday 6 September 2016

Iron ore price charts for September 5, 2016:

Tianjin spot faded a touch to $58.80. Paper bounced overnight. Rebar bounced yesterday. It’s all felling a bit soggy except for the two coals which are screaming higher on restocking. China is very low on inventories for both so those rallies could run though year end before collapsing.

In news, BHP is bearish, from Bloomie:

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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.