Daily iron ore price update (boom and bust)

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Iron ore price charts for February 8, 2018:

Tianjin benchmark rose 35 cents to $77.85. Paper jumped overnight. Steel is stuck.

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News of the day was Chinese trade data which showed big January import tonnages at 100mt:

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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.