Daily iron ore price update (raging ferrous bubble)

David Llewellyn-Smith

Tuesday 8 November 2016

Iron ore price charts for November 7, 2016:

Like wow. Tianjin spot jumped 2.1% $66.80. Paper flew. Rebar flew. Coking coal flew. Physical hit $289. Thermal coal flew to a new high. Iron ore port stocks jumped 1.85mt last week to 108.6mt!

Reuters has texture:

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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.