Daily iron ore price update (free fall)

Tuesday, 12 November 2019

Texture from Reuters:

“The ferrous market is on the weakest front as steel mills are destocking for the end-of-year financial accounting,” said Darren Toh, data scientist with Singapore-based steel and iron data analytics company Tivlon Technologies.

Steel inventories in China stood at 8.9 million tonnes as of Nov.7, the lowest level since Jan.11, according to data compiled by MySteel consultancy.

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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.