Daily iron ore price update (coking coal bounce)

Find above the ore complex price table for November 12.

The news today is all in the other bulks, where we find a little bounce happening for both coals, coking and thermal, on improving Chinese data. From ANZ:

Newc physical FOB thermal coal prices rose, in line with better China data. Electricity production in China rose 6.4% y/y to 397.5bn kWh in October, the strongest gain in 7 months and encouraging for thermal power demand. Coking coal prices have also improved, up 4.7% last week to USD157/t in line with rising iron ore prices (5th consecutive weekly rise to USD122/t).

ANZ Commodity Daily 740 121112 (2)

Comments

  1. They’re heading into winter so I expect to see a rise in thermal coal consumption and electricity for light (shorter days) and heating.

    Seasonal the main driver??