Daily iron ore price update (better short than long)

Thursday, 4 July 2019

Spot prices stalled. Paper fell marginally overnight. Steel has flamed out as Chinese steel supply restraints have proven pretty loose, via Reuters:

Tangshan, the steel hub of China, imposed last month a set of output restrictions on producers, which will remain in place until August 1.

“The policy declared in Tangshan turned out to be not as strict as we heard last month,” said a Shanghai-based steel trader, echoing a report by an industry website, which Reuters could not immediately verify.

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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.