Daily iron ore price update (new highs)

David Llewellyn-Smith

Thursday, 8 December 2016

Iron ore price update for December 7, 2016:

Tianjin benchmark jumped 4.8% to $82.40. Paper went up again overnight. Coking coal futures too. Rebar is running. Mill margins are again near the lows. Port stocks rose another 500k tonnes last week to new highs of 11.75mt. Thermal keeps falling.

Texture from 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.