Daily iron ore price update (congestion)

Tuesday 5 September 2017

Iron ore price charts for September 4, 2017:

Tianjin benchmark jumped $1.40 to $77.20 which was catch-up really. Paper fell overnight. Steel has not updated.

We’re seeing a little price congestion now but I still can’t see falls for a couple of months yet. With reform keeping steel margins so high, it’ll take a clear slowdown in the macro to trigger any destocking.

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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.