Daily iron ore price update ($120?)

Wednesday 8 May 2019

Iron ore prices for May 7, 2019:

Spot soared. Paper flamed out overnight on trade war worries. All else is stable. Port stocks fell another 2.4mt last week and are free falling. CISA steel output is at its highest ever in mid-April, above 2mt per day.

Via Reuters:

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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.