Daily iron ore price update (evidence)

Thursday 16 November 2017

Iron ore price charts for November 15, 2017:

Tianjin spot fell $1.60 to $61.20. Paper was stable overnight. Steel got whacked yesterday. CISA late October output fell 1.6% to 1.79mt per day. The decline is now showing evidence of either shutdowns or easing demand.

Nothing is discounted here yet. If the market is going to price a slowdown it has far yet to fall.

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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.