Daily iron ore price update (thermal harbinger)

David Llewellyn-Smith

Wednesday, 7 December 2016

Iron ore charts for December 6, 2016:

Tianjin benchmark rose 0.3% to $78.60 . Paper is afire again. Rebar is at new highs offering hope for more. CISA output for mid-October was stable at 1.72mt. Coking coal futures are dancing on the spot. Thermal coal is done for. Expect all other bulks to follow in due course. But it may not be until end of Q1 2017 now that we seem to have leaped over the seasonal draw down and the usual Q1 risk factors appear.

In news, Samarco edges forward, 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.