Daily iron ore price update (restocking)

Wednesday, 31 July 2019

Texture from Reuters:

Average weekly shipment from Brazil decreased 8% versus June to 5.9 million tonnes, while cargoes from Australia decreased 13% to 15 million tonnes, she said, citing some industry tracking data.

“The data shows shipments are not recovering and not very stable,” Lau said. “We need to closely monitor these shipments on a weekly basis.”

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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.