Daily iron ore price update (shortage?)

David Llewellyn-Smith

Monday, 21 August 2017

Iron ore price charts for August 18, 2017:

Tianjin benchmark fell 60 cents to $75.10. Paper soared. Coking coal was stable. Thermal is in heaven. Chinese iron ore port stocks fell 1.8mt to 135.2mt.

Do we have another bulk commodity shortage? Chinese steel mill stocks have been rising as port stocks fall so this is still a restocking pulse but the tumble in port stocks even as prices rise still suggests a tight market.

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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.