Daily iron ore price update (Bitiron)

Monday, 4 December 2017

Iron ore price charts for December 1, 2017:

Tianjin benchmark up $1.50 t0 $69.30. Paper to the moon. Steel stalled. Anyone for some Bitiron?

Once iron ore and coking coal were very solid supply and demand markets. With the advent of short term pricing and Chinese futures they have become as volatile as Bitcoin and virtually unreadable in reference to fundamentals.

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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.