Daily iron ore price update (FT wrong)

Thursday, 30 May 2019

Spot down. Paper was bashed lower by higher DCE trading fees. Steel is stable.

The FT is wrong:

Steelmakers are feeling the profit pinch. There are hints of overcapacity problems ahead for Chinese producers. There, the price of hot rolled coil, a widely traded steel commodity, remains down double digits year on year.

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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.