Daily iron ore price update (if not for Vale…)

Friday 15 February 2019

Iron ore prices for February 14, 2019:

We may be setting some kind of trading range in the $80s here but we’ll have to wait and see. I still expect mills to destock violently the moment they feel secure about Vale supplies.

The signs in yesterday’s Chinese trade data confirm as much. Iron ore imports were very weak in January, down 9% year on year with the rolling annual falling at the fastest in history:

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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.