Daily iron ore price update (half the price)

Monday 27 May 2019

Iron ore prices for May 24, 2019:

Spot up. Paper roared overnight as port stocks tumbled again last week 127.7mt. Steel is riding the coat tails. But it’s not all good on that front:

China Steel Corp (CSC, 中鋼) on Friday announced that it would cut steel quotation prices for domestic deliveries in the third quarter to reflect increasing uncertainty that has resulted in a wait-and-see approach in the global steel market.

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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.