Daily iron ore price update (last legs)

David Llewellyn-Smith

Monday, 15 January 2018

Iron ore price charts for January 12, 2017:

Benchmark spot fell 1% to $78.30. Futures fell. Steel fell. Direction over the next few months will hang on Chinese restocking and Pilbara weather. Given the La Nina and the early year big steel build it is wise to expect price firmness through Q1, as said last year.

But, beyond that, a cliff looms. Major steel mills have slashed steel output:

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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.