Daily iron ore price update (lifting price outlook)

Wednesday 13 June 2018

Iron ore prices for June 12, 2018:

Tianjin benchmark lifted 25 cents to $65.95. Paper was flat overnight. Steel is stalled. The Chinese stock draw down is slowing as noted yesterday:

“As the low season for steel demand is approaching, price hikes at mainstream steel firms helped to stabilise market sentiment,” said analysts at Orient Futures in a note.

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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.