Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Yuan craters again, dirt soars some more

David Llewellyn-Smith

Friday, 25 November 2016

The CNY fixing has fallen to another new low today:

And the response in markets is predictable with iron ore once again limit up!

Interestingly, this week has seen iron ore overtake coking coal as Banana Man’s favoured roulette wheel, for whatever reason.

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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.