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It appears mines have come out of Debbie OK but not rail, from Aurizon:
Five weeks of delays will stop the coking coal correction. Chinese markets are closed today but WHC is jumping on the news. Earnings for big miners will be hit and GDP too.
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It will be interesting to see if this delays or accelerates the iron ore correction. Probably the former but steel mills could decide to destock iron ore if coke spikes.
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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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