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Iron ore charts for November 23, 2016:
You can’t keep a good bubble down! Tianjin benchmark rose 1.5% to $74.90. DCE paper is at new highs. SGX is tipsy again. Oddly coking coal is now trailing. Thermal rebounded. Steel is trying and failing. Mill margins have collapsed to their lows again.
Wider base metals are getting infected again. More tightening of the out-of-control Chinese futures market is needed.
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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.
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