Daily iron ore price update (divergence)

Wednesday, 5 December 2018

Spot up. Paper up more. Steel futures shifted forward to May and slumped. Mill margins will be getting killed. Rebar inventories are still falling as nobody want to hold stock when prices are falling on over-production.

There’s more pressure coming for iron ore once through the new year restock.

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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.