Daily iron ore price update (limit down)

Friday, 8 December 2017

Iron ore price charts for December 7, 2017:

Tianjin benchmark fell $1.30 to $66.40. Paper went limit down at the close yesterday but added a little overnight. Steel came off.

The trigger for the bust was more futures price hikes, via Reuters:

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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.