Daily iron ore price update (thermal crash)

Monday 14 November 2016

Iron ore charts for November 14, 2016:

Tianjin spot was unchanged at $79.70. Paper gains slowed. Rebar still edged up. Thermal coal is crashing. But coking coal futures have gone nuts again. Thermal is the future for coking and iron ore before too long. One trader I spoke with yesterday even suggested that cotton was the leading indicator for iron ore:

Chinese authorities will eventually win.

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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.