Daily iron ore price update (Mt Whaleback burns)

David Llewellyn-Smith

Friday 2 June 2017

Iron ore price charts for June 1, 2017:

Tianjin benchmark tumbled another $1 to $55.20. Paper finally stabilised overnight, helped by the BHP fire at Mt Whaleback. Steel has rolled. Once we remove taxes and charges, coking coal futures are now pricing $112.

CISA release mid-May fast data for steel output and it rose a touch to 1.805mt:

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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.