Daily iron ore price update (down we go)

Wednesday 17 January 2018

Iron ore price charts for January 16, 2017:

Tianjin spot fell 90 cents to $75.60. Paper firmed a little overnight. Coking coal was hammered. Steel is stable. CISA output at major mills roared back 3.6% in late December.

The last point may prove very important for the timing of the coming price correction. If pollution controls were eased as air cleared into NY then the Q1 steel inventory build will proceed unhindered and both the steel market and macro data will clear Winter distortions by March.

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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.