Daily iron ore price update (and now Iran)

David Llewellyn-Smith

Thursday, 9 May 2019

Iron ore prices for May 8, 2019:

Spot down. Paper down. Steel down. Trade war weighing. Also soft China trade data. Steel exports were decent 6.33mt but iron ore imports crashed to 80.7mt in April, though largely on supply problems.

Port Hedland shipping rebounded rebounded in April to 42mt so May should look better for Chinese imports. There’s clearly more capacity here and it should come on stream over the next few months.

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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.