Daily iron ore price update (insane margins)

David Llewellyn-Smith

Wednesday 11 July 2018

Iron ore price for July 10, 2018:

Tianjin benchmark fell five cents to $63.20. Paper was down. Steel is still roaring on irrelevant capacity cut rumours.

Steel mills are quit simply printing money at the moment. The last time steel was priced this high iron ore was at $80 and coking coal $220. Margins are insane.

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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.