Daily iron ore price update (first top)

David Llewellyn-Smith

Friday 4 November 2016

Iron ore price charts for November 3, 2016:

Tianjin benchmark rose 0.2% to $64.50 Paper went nuts again overnight, hitting to new highs. Steel still has pricing power and so long as it does the rally can persist. Coking coal futures also took off. But thermal coal appears to have topped out after China forced local producers to cut prices. Why it does do the same with coking coal I have no idea!

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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.