Daily iron ore price update (whoa!)

David Llewellyn-Smith

Wednesday 9 November 2016

Iron ore charts for November 8, 2016:

Tianjin benchmark jumped 1.5% to $67.80. Paper is unhinged. Coking coal futures reversed but spot hit $307.20. Thermal has not updated. I included the longer term chart to show you how crazy steel is. These moves dwarf 2009.

We got our coal futures tightening but who cares! 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.