Daily iron ore price update (oil slick)

David Llewellyn-Smith

Monday, 9 March 2020

Iron ore price update for March 6, 2020:

Spot was down. Paper too. Chinese imports of iron ore for January/February were 177mt, up marginally on last year. The rolling annunal measure is stalling just above zero.

The oil price crash should drag iron ore lower. It is the major imput cost for mining and logistics. Probabaly not enough to rout the price.

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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.