Daily iron ore price update (second top)

David Llewellyn-Smith

Friday 11 November 2016

Iron ore charts for November 19, 2016:

Tianjin benchmark rocketed 4.5% to $74.20. Paper gains slowed in Dalian. Singapore went catch-up. Rebar is stalling. Steel mill profitability has crashed completely. Coking coal futures have been stopped in their tracks by authorities. Thermal coal has topped and begun to fall. Reuters has texture:

Iron ore futures in China surged by their 9-percent limit on Thursday to hit a 30-month peak, extending a recent rally backed by strong coking coal markets as well as steel prices.

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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.