Daily iron ore price update (look out below)

David Llewellyn-Smith

Wednesday 16 May 2018

Iron ore price charts for May 15, 2018:

Tianjin benchmark fell 85 cents to $67.40. Paper fell last night. Steel eased yesterday. Rebar stocks are stilling drawing at a good pace but remain abundant.

We’re headed lower from here is my guess. Output is stunning. The macro is slowing. Inventories are bloated. Summer is cyclically slow for construction and mills destock into EOFY.

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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.