Daily iron ore price update (buy the trade war?)

David Llewellyn-Smith

Thursday, 12 July 2018

Iron ore prices for July 11, 2018:

Tianjin benchmark fell 50 cents to $62.70. Paper was bid overnight. Steel firm yesterday. CISA late June steel output eased 1.8% to 1.955mt. It should approach last year’s levels more and more as the artificial lift from illegal mills shifting to legal washes through the data.

The bulks are holding up better than industrial metals and one wonders if this is why, via UBS:

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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.