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Iron ore charts for November 22, 2016:
Another day, another bubble episode. Tianjin spot insane at 5.7% to $73.80. Paper insane. Coal half-mad. Though coking spot fell a bit to $308. Steel sober. Steel mill margins back to the lows. Miner share prices to the moon. Do not look for rational explanations here. This market has turned to speculative shit.
FTLex says it’s going to end:
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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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