Daily iron ore price update (Dalian drag)

Wednesday 23 October 2013

Find below the iron ore price table for October 22, 21012

The worm has suddenly turned across paper and spot markets with the arrival of Dalian futures. Spot and 12 month swap are under pressure:

Rebar average held its ground as did futures:

However the Dalian dip seems to already be placing pressure on spot. Six month futures are trading at $128 equivalent.

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.