Daily iron ore price update (impressive)

David Llewellyn-Smith

Monday, 29 January 2018

Iron ore price charts for January 26, 2018:

Tianjin benchmark fell 45 cents to $74.60. Paper fell Friday night. Steel is holding up.

The weakness is impressive given how fast the US dollar is falling. In recent times that has been excuse enough for Chinese traders to buy aggressively. It bears out so far that Chinese demand softening will be the dominant price driver in 2018.

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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.