Daily iron ore price update (rally done)

David Llewellyn-Smith

Friday, 24 August 2018

Iron ore prices for August 24, 2018:

Spot down. Paper too. Steel faded. Hard to know if the rally is cooked. September is very weak seasonally but Winter shutdowns have distorted even that.

My guess is the top is in and the slide into Q4 has begun.

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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.