Daily iron ore price update (goodbye cruel world)

Thursday, 8 August 2019

Texture from Reuters:

“Steel mills are reluctant to buy iron ore, waiting for prices to further go down,” a Shanghai-based trader said.

…Iron ore’s reversal of fortune and the escalating trade war prompted Jefferies to lower its ratings on several miners and reduce its commodity price forecasts.

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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.