Daily iron ore price update (China mine closures)

David Llewellyn-Smith

Wednesday 6 June 2018

Iron ore prices for June 5, 2018:

Tianjin benchmark rose 90 cents to $64.75. Paper was up overnight. Steel is firm still. Rebar inventories fell to 5.32mt last week, still falling at a good clip despite record output but still up materially on last year.

The driver of gains comes from Reuters:

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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.