Daily iron ore price update (low grade carnage)

Tuesday, 10 April 2018

Iron ore prices for April 9, 2017:

Tianjin benchmark rose $1.05 to $64.05. Paper jumped overnight though that was before markets calmed down. Steel is still soft. Chinese iron ore port stocks fell a bit to 161.o3 last week.

The news is more low grade rationalisation, via AFR:

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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.