Daily iron ore price update (ports climb again)

David Llewellyn-Smith

Monday, 17 July 2017

Iron ore price charts for Friday 14, 2017:

Tianjin benchmark fell 20 cents to $65.50. Paper rose overnight. Steel stalled. Coal is still levitating. As expected, Chinese iron ore port stocks resumed climbing last week, up 400kt last week to 139.7mt.

It will be interesting to watch port stocks now. The pace at which they rebound will tell us something about how much of formerly illegal induction furnace steel production has switched to iron ore versus scrap inputs in blast furnaces.

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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.