Daily iron ore price update (limit down)

David Llewellyn-Smith

Wednesday 30 November 2016

Iron ore charts for November 29, 2016:

Tianjin benchmark crashed -6.4% to $75.10. Iron ore paper crashed -4.5% yesterday and is limit down another -6% overnight. Coking coal futures crashed limit down. Rebar held up but futures crashed. Thermal coal crashed. CISA steel output for the first ten days of November lifted 1.2% to 1.72mt. I expect a slow decline into year end.

The driver of price falls was as expected, from Reuters:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.