Daily iron ore price update (ports OMG)

Tuesday 16 January 2018

Iron ore charts for January 15, 2017:

Tianjin benchmark fell $1.80 to $76.50. Paper firmed overnight on the plunging USD. Steel eased. No need to adjust your TV, ports stocks did rise another 4.83mt last week to an astonishing 152.83mt.

I’ll simply render this nice chart which shows the correlation between the Chinese housing and iron ore inventory cycles:

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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.