Daily iron ore price update (thermal on fire)

Friday, 30 September 2016

Iron ore prices for September 29, 2016:

Tianjin benchmark rose 0.4% to $56.10. Paper flamed out overnight. Rebar firmed. Iron ore is still running on the spot before going backwards in Q4. Our latest tearaway is thermal coal which is off to the races:

Oddly enough, this has coincided with China loosening its coal restrictions, from Macquarie:

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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.