Daily iron ore price update (massive downgrades)

Monday 3 February 2020

Iron ore prices for January 31, 2020 fell again on SGX with 12 months waps down to $73.01:

Platts is assessing iron ore spot at $82.55 as of Friday so Dalian and Tianjin spot have a long way to fall at the open today.

As well, the Baltic Dry capesize index is now negative for the first time ever:

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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.