Daily iron ore price update (scarcity pricing)

Friday 17 May 2019

Iron ore prices for May 16, 2019:

Spot to the moon. Paper too. Not steel.

Steel mill margins are going to get crushed and, over time, they’ll try to destock. But that is besides the point for now. With China cornered by the trade war and needing MOAR stimulus and Brucutu offline the only way is up.

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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.