Daily iron ore price update (glowing short)

Wednesday, 17 July 2019

The spot price crawled higher. Paper sold off. Steel isn’t going anywhere. In news, China is hammering speculators via Dalian price hikes, at Reuters:

* China’s Dalian Commodity Exchange (DCE) said it will raise transaction fees for all iron ore futures contracts to 0.01% from 0.006% of the trading value, starting July 18, the bourse said in a statement on Tuesday

* DCE also adjusted intra-day transaction fees for the September-delivery contract to 0.025%, while non-intraday trading transaction fees stay at 0.01%

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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.