Daily iron ore price update (the end is nigh)

Friday, 9 November 2018

Iron ore prices for November 8, 2018:

Spot jumped as Chinese trade held up. Paper too. Steel is struggling and that is the real message for the next month I think. Still see prices going lower before higher into new year.

The trade data showed steel exports coming off in October to 5.5mt and that’s the OBOR ramp up done, I suspect. It will stay at these levels but won’t grow much unless the steel price falls:

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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.