Daily iron ore price update (roll over)

Monday, 9 September 2019

Texture via Reuters:

“Steel mills across China are ramping up their steel production as Tangshan sintering cuts kick in. This means firm demand for iron ore in the ferrous complex,” said Darren Toh, a data scientist with Singapore-based steel and iron ore analytics firm Tivlon Technologies.

“The rebound in prices recently echoed robust demand in September and October, but it has come to an end now,” said Wu Shiping, an analyst at Tianfeng Futures, adding market expects cooling demand in winter.

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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.