Daily iron ore price update (cookoo coal)

Monday, 17 October 2016

Iron ore price charts for October 16, 2017:

Tianjin benchmark rose 0.4% to $56.80, again under-performing paper which went nuts Friday night. Steel is stalled. Chinese iron ore port inventories rose 300kt over the past two weeks. That stability helps explain some of the returned price pressure:

Yet it cannot last. The coal craziness continues to get worse with thermal now chasing coking to the moon:

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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.