The two coals join the rout

Wednesday, 18 March 2015

Iron ore is not the only bulk commodity striking new price lows at the moment. Coking and thermal coal are both doing the same. Thermal coal was at $60 overnight, a post GFC low:

And coking coal is into the $114s, also at post-GFC lows:

More Budget and income pain.

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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.