Daily iron ore price update (OMG!)

David Llewellyn-Smith

Sunday 12 February 2017

Iron ore prices for February 10, 2017:

OMG! Tianjin benchmark lifted 4.6% to hit $87. Steel did nothing. Port stocks rose, wait for it…3.5mt to 127mt. Coking coal futures reignited. Thermal held on.

The proximate cause was Chinese trade data which showed solid January imports of 92mt, up 12% year on year and still enjoying a stellar trend:

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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.