Daily iron ore price update (dead cat)

Thursday, 15 March 2018

Iron ore prices for March 14, 2018:

Tianjin benchmark jumped $1.80 to $71.75. Paper eased off overnight. Coking coal the same. Steel was much less excited. Port inventories fell 500kt to 158.6mt last week.

Chinese data was good so we got the bounce. It won’t last. Here’s a few charts from Capital Economics:

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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.