Daily iron ore price update (tremors)

Tuesday 3 July 2018

Iron ore price charts for July 2, 2018:

Tianjin benchmark faded 65 cents to $63.80. Paper is still down overnight. Steel is still OK. The steel PMI was solid. Iron ore port stocks rose 1.6mt to 157mt.

Some price tremors but we’re still just waiting for softening Chinese demand.

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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.