Daily iron ore price update (Ports Twin Everest)

David Llewellyn-Smith

Wednesday, 6 December 2017

Daily iron ore price charts for December 4, 2017:

Tianjin fell 50 cents to $7.80 so had not update yesterday. Paper has flamed out for now. Port inventories climbed gain last week to hit a new all-time high of 141.7mt. Steel eased.

This double-Everest of ports iron ore is 72.4mt of Aussie and 35.8mt of Brazilian ore. It’s thought to be oriented towards lower grades which is why FMG has such a problem given the Aussie pile alone represents 41% of it’s entire annual output and the total pile 83%. But nobody knows for sure.

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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.