Daily iron ore price update (limit down)

Friday 13 May 2016

Iron ore charts for May 12, 2016:

Tianjin benchmark was hit 1.8% to $54.40 but there’s more in store today with Dalian futures almost limit down overnight. Steel has further to fall too. Reuters has texture:

Chinese steel and iron ore futures fell deeper into bear market territory on Thursday, as the country’s exchanges unveiled more measures aimed at dampening the type of speculative trading behind a powerful rally last month.

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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.