Daily iron ore price update (palliative care)

Tuesday, 20 August 2019

Texture from Reuters:

Iron ore pulled back during afternoon trade amid market talk that China’s top steelmaking city of Tangshan has ordered deeper production cuts over a four-day period – Aug. 18-Aug. 21 – to curb pollution. Reuters could not immediately verify this.

Expectations that iron ore supply will further improve also weighed on prices.

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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.