Daily iron ore price update (late cycle blowoff)

Here’s the latest iron ore price charts for January 12, 2018:

Ore is quite on a tear, up nearly 35% from its lows and meeting the August 2017 high. The Tianjin price was also up, now at $79.35 per tonne.

The Port Hedland authority is still clearing out ships as Cyclone Joyce intensifies, but as the below chart shows we’re in a a classic late cycle blowoff and seasonal restock as expected.