Daily iron ore price update (uh oh)

Wednesday 11 October 2017

Iron ore price charts for October 11, 2017:

Tianjin benchmark was hit $1.30 to $57.80. Dalian held on overnight. Coking coal did better as plant shutdowns help it. Steel futures are breaking down. Reuters has texture:

Inventory of rebar, a construction steel product, among Chinese traders rose by more than 250,000 tonnes from Sept. 29 to 4.36 million tonnes on Oct. 10, according to data compiled by industry consultancy SteelHome. SH-TOT-RBARINV

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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.