Daily iron ore price update (Roy Hill)

Thursday, 5 October 2017

A couple of stories today are important as China remains closed for Golden Week. Iron ore paper and physical are not trading and SGX has been running around on the spot:

Last week’s iron ore port stocks jumped 2.75mt to 133.6mt:

That is obviously a bearish signal coming into the break vis shutdowns dampening iron ore demand though I’d not read too much into yet given the many distortions.

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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.