Daily iron ore price update (froth off)

Thursday 23 March 2017

Iron ore price charts for March 22, 2017:

Spot down. DCE stabilised overnight. Coals stable. Steel rolled. We’re just blowing the froth off here. There never was much need for the blowoff of the last few months. We should be back at $60 by mid-year.

World Steel is out with February figures:

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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.