Daily iron ore price update (more steel)

David Llewellyn-Smith

Thursday 14 June 2018

Iron ore price charts for June 13, 2018:

Tianjin benchmark fell 15 cents to $65.80. Paper is running on the spot. Steel is strong again. Output for late-May at CISA mills pulled back to a slightly less astonishing 1.95mt per day.

Iron ore spot appears to be decoupling with paper a little, not to mention steel prices. It’s clearly in abundance. Still, it won’t fall until steel does.

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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.