Daily iron ore price update (absurdly high)

Wednesday, 21 December 2016

Iron ore price charts for December 20, 2016:

Spot is falling but remains absurdly high given the outlook for demand, supply and wider conditions. DCE paper wants to fall but so far has held on. Steel is falling. Mill margins have jumped as coking coal drops like a stone. More falls ahead in my view.

The news is about smog, via the FT:

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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.