Daily iron ore price update (imports peak)

Wednesday, 9 May 2018

Iron ore prices for May 8, 2018:

Tianjin benchmark lifted 30 cents to $67.35. Paper fell overnight. Steel rolled yesterday. Coking coal too. Rebar inventories are drawing very normally. Mill output is ripping, hitting 1.91mt per day, an all-time CISA record.

Yesterday’s trade data offered some insights. Iron ore imports were 83mt in April and are clearly plateauing:

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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.