Daily iron ore price update (meh)

David Llewellyn-Smith

Monday, 6 November 2017

Iron ore price charts for November 3, 2017:

Tianjin spit listed 10 cents to $58.40. Paper rallied overnight but is stretching away from physical. Coking coal futures were firm. Steel too. Reuters has texture:

Steel mills across China, particularly in the country’s biggest steel producing city of Tangshan, were expected to begin cutting production to meet air pollution reduction targets. However, Tangshan has ordered different levels of capacity cuts leading to speculation that the output may not be curtailed as much as expected.

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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.