Iron ore prices for November 28, 2018:
Spot up. Paper down. Steel up. Coking coal is rock solid.
Is that really all it’s got? There’s no forced liquidation there. Just a few mills bashing the price lower for a few days to repair margins. Paper is still weak so there may be more ahead but it was physical that led the move so I’m inclined to say it’s already over. As we know, the new year period is strong so it was always going to turn pretty quick. I’d just hoped we might see a little more of the good ‘ol days first.