Iron ore prices for November 26, 2018:
Spot is now in an old school crash. Paper too but it is following. Coking coal is still relatively strong. Steel is still very high. Port stocks even higher!
When we see these types of shakeouts it is because somebody has been caught on the wrong side of the trade and is force liquidating driving big overshoots so it is probably not over. In fact, it is likely that we’ll break $60 now. Reuters has more:
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