Daily iron ore price update (still shaky)

Thursday 28 June 2018

Iron ore prices for June 27, 2018:

Tianjin benchmark fell 85 cents to $63.80. It is weaker than paper which is hanging on. Steel is fading. It is apparent that steel production is now outstripping demand. Either it must fall or prices will. Either will weaken bulks.

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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.