Daily iron ore price update (crunchtime)

David Llewellyn-Smith

Friday, 2 November 2018

Iron ore price for November 1, 2018:

Spot down again. Paper and steel more. The Steel PMI actually held up well as building accelerates. There’s more of that ahead.

We’re already seeing a big new infrastructure push. Property is an open question. They say it will reined but so far it’s the opposite. The downdraft from non-building steel output will be significant as tariffs bite:

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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.