Daily iron ore price update (the ferrous mountain)

Wednesday, 7 March 2018

Iron ore prices for March 6, 2018:

Tianjin benchmark fell 65 cents to $75. Paper lifted overnight. Coking coal is solid. Steel too. CIAS output for mid-Feb hit 1.8mt which again shows Winter shutdowns have done nothing to dent output.

The craziest data point was Chinese port stocks of iron ore which hit an astonishing 159.1mt:

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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.