Daily iron ore price update (range trading)

David Llewellyn-Smith

Tuesday, 14 November 2017

Iron ore price charts for November 13, 2018:

Tianjin benchmark fell 10 cents to $61.90. Steel was firm. Paper too. Port stocks hovered at the highs last week of 137.87mt.

The entire complex is trading as one at the moment. Bulks should be felling even as steel remains strong but ever time they try, speculators pile in. We may just get stuck range trading here until the macro weakens enough to break the whole complex next year.

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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.