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Iron ore price charts for June 2, 2017:
Tianjin benchmark added $1.10 to settle at $56.30. Paper added to dead cat gains Friday night. Coking coal a little as well. Steel appears to have rolled. Port stocks fell a lousy 50kt tonnes last week.
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If prices run for a bit on a dead cat bounce then port stocks will rise again and snuff it out.
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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.
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