Daily iron ore price update (a crawl)

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Textur from Reuters:

“Steel margins remain on the upward trend and as it stands we are back to early May levels,” said Hui Heng Tan, research analyst at commodity broker Marex Spectron.

Margins have improved in the wake of declines in prices of feedstocks such as iron ore and coke. Spot prices of benchmark 62% iron ore slumped below $80 a tonne last week, their lowest in more than nine months, amid tepid demand and easing concerns over supply.

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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.