Daily iron ore price update (Highway to Hell)

Wednesday, 26 November 2014

Find below the iron ore charts for November 26, 2015:

As expected, Chinese iron ore bears are in total control. The paper conflagration is raging out of control with Dalian signalling $60 by May. Surely we’ll sink into the $50s today. Physical is no match for the wild fire and benchmark plunged well past Qingdao to $68.60.

Texture from 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.