Daily iron ore price update (smash)

David Llewellyn-Smith

Thursday, 25 May 2017

Iron ore price charts for May 24, 2017:

Tianjin benchmark was squashed $2.60 to $59.30. Coking futures too. Steel rolled. Thermal took off. The charts looks bearish for another leg down with a series of descending triangle patterns. Whether it happens now or a little later is nether here nor there. It’s coming. It probably still hangs on the rebar price.

Coking coal could be at the point of revolution, via Platts:

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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.