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Iron ore price charts for September 14, 2018:
Spot firmed and paper added more. Steel was firm. Rebar inventories are fine at 4.33mt well above last year.
The ferrous market is now pricing for the property boom that has been unleashed with more infrastructure to come. Given inventories of everything are already so high I can’t see it running much further but you never know.
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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.
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