Daily iron ore price update (all over the shop)

David Llewellyn-Smith

Tuesday 5 March 2019

Iron ore prices for March 4, 2019:

Spot down. Paper down more. Coking coal stable. Steel strong. We’re entering a seasonal period when iron ore would normally be falling but that has been badly compromised by the Vale accident and Chinese stimulus efforts such as they are. That has destocking mills battling with other extraneous forces for now. I think it likely that prices will remain firm until both are clarified.

Mills are pumping out steel again, via CISA:

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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.