Daily iron ore price update (the deadest of cats)

David Llewellyn-Smith

Wednesday, 28 March 2018

Iron ore prices for March 27, 2018:

Tianjin benchmark rose 40 cents to $63.45. Paper tumbled overnight. Steel rebounded yesterday.

Not much of a rebound. All charts have glaringly bearish descending triangle patterns. The key chart is Dalian six month futures which is approaching major support in the 400yn range. Any break of that will herald the end of the post-2015 rebound.

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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.