Chinese iron ore port stocks reach for the stars

Tuesday, 27 June 2017

Chinese iron ore port inventories are out for last week and we saw another rise of 2.5mt to 141.45mt, a new world record:

Proof positive, if any more were needed, that the iron ore glut is so large that the price cannot hold up unless inventories accumulate.

And then, of course, there is this:

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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.