Daily iron ore price update (damp squib)

Tuesday, 20 June 2017

Iron ore charts for June 19, 2017:

Tianjin benchmark tacked on 80 cents to $54.70. Steel is stable. Coals doing better. The iron ore market is trying to give us a bear market rally as we pass through Chinese peak demand season but it’s coming off more like a damp squib.

No change to the outlook: lower before year end.

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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.