Daily iron ore price update (all good!)

David Llewellyn-Smith

Thursday, 18 May 2017

Iron ore price charts for May 17,2017:

Tianjin benchmark added $1.10 to be $61.50. Thus physical is still under-performing paper by a long way. The latter firmed over night but not with any great vigour. This does not look like a very strong rebound. And why would it be given all it will do raise port stocks to hysterical levels. Having said that, steel remains amazingly strong.

No change to outlook.

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.