Daily iron ore price update (rumourtage)

Thursday 13 June 2019

Iron ore prices for June 12, 2019:

Spot is still red hot. Paper cooled. Steel is going nowhere. CISA output for mid-May is still gigantic. Rebar stocks still drawing down at roughly the pace of last year. There is nothing wrong with demand right now:

Rumourtage is the word of the 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.