Daily iron ore price update (paaaaiiiiin)

Monday, 26 March 2018

Iron ore prices for March 23, 2018:

Tianjin benchmark was thrashed -5.4% to $64.05. Paper stabilised overnight but that was before broader markets fell away. Steel is getting hammered.

We’ve much lower to go yet. My targets remain 300o yuan for rebar, $50 for iron ore and 1000 yuan for coking coal in the next three months. Then little recovery in H2.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.