Daily iron ore price update (confusion)

Friday, 25 August 2017

Iron ore prices for August 24, 2017:

Tianjin benchmark sank 90 cents to $76.50. Paper firmed overnight after a late sell-off yesterday. Coking coal is off to the races on more temporary supply issues in QLD and Chinese restocking. So long as it runs we can’t say iron ore is done.

The main source of confusion on that front is captured nicely by the new World Steel numbers:

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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.