Daily iron ore price update (mixed messages)

David Llewellyn-Smith

Monday, 19 December 2016

Iron ore charts for December 16, 2016:

Spot flat. SGX paper down. DCE paper down more Friday night. Steel easing. Chinese iron ore port stocks up another 250k tonnes last week. Coking coal down again to $260. Thermal enjoying a dead cat bounce as North Asia freezes.

Down remains the trend but in the short term there are some interesting cross-currents. On the bearish side, S11D is here, via Reuters:

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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.