Daily iron ore price update (astonishing output)

David Llewellyn-Smith

Tuesday 15 May 2018

Iron ore price charts for May 14, 2018:

Tianjin benchmark rose 45 cents to $68.25. Paper was up again overnight. Coking coal is afire. Steel faded. Port stocks fell a decent slab last week to 158.9mt. CISA steel output in late April was an astonishing 1.91mt per day.

We’re enjoying a post-shutdown Spring in Chinese demand. It will fade into Summer as steel prices falter amid such output. That will lead bulks lower into mid-year. No change to outlook.

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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.