Daily iron ore price update (downside break)

Wednesday, 21 August 2019

Texture from Reuters:

“Despite the steel production restrictions in China, I think demand for iron ore, particularly for high-grade materials, is still at a healthy level,” the trader said.

While the U.S.-Sino trade dispute has dampened global economic growth, it has not yet affected Chinese demand for BHP Group’s iron ore, Chief Executive Andrew Mackenzie said on Tuesday.

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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.