Daily iron ore price update (it begins)

David Llewellyn-Smith

Monday 21 May 2018

Iron price charts for May 18, 2018:

Spot fell. Paper burned overnight. Steel broke Friday. The mid-year draw down has begun.

Don’t tell anyone but it happens pretty much every year as summer rains disrupt Chinese construction and steel mills rebalance inventories going into EOFY. This year there is the added complication of the developing slowdown:

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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.