Daily iron ore price update (steel to the moon)

Tuesday 21 August 2018

Iron ore price update for August 20, 2018:

Spot firming still. Paper was down overnight. Steel was crazy though inventories are still stable. Texture from Reuters:

Prices in China for rebar construction steel on Monday hit their highest in nearly seven years, boosted by concerns over tight supply.

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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.