Daily iron ore price update (down)

David Llewellyn-Smith

Monday, 24 July 2017

Iron ore price charts for July 21, 2017:

Tianjin benchmark down 20 cents to $67.10. Paper down. Steel is slowing fading. Port stocks are rising again with prices as expected, up 750kt tonnes last week to 140.45mt.

I still expect the restock to persist a little while longer but we appear to be at the price peak around $70.

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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.