Daily iron ore price update (not done)

Thursday 30 March 2017

Spot down. DCE down more overnight. Steel up a bit with the two coals as we await the damage reports from Debbie. Mines appear to be OK. Now we need to check infrastructure.

Assuming it comes out OK the selling should resume. Sentiment on Chinese property is taking a battering and credit markets remain tight:

In my view the PBOC wants to take the heat out of the PPI and that means steel prices must fall. Next week at least we have the PMIs which should lend some support.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.