Daily iron ore price update (free to bid)

David Llewellyn-Smith

Thursday, 13 July 2017

Iron ore price charts for July 12, 2017:

Tianjin spot lifted 60 cents to $65.30. Paper fell overnight. Coal is stalled. Steel is off and running on the rebar shortage.

That’s the crucial point now. Even though we’ve got piles too much iron ore, the market is free to bid it up further and accumulate inventories so long as steel runs higher. We need to see rebar stocks rising before iron ore comes off again.

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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.