Daily iron ore price update (red hot)

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Iron ore price charts for August 17:

Tianjin benchmark rocked nearly 6% to $75.70. Paper calmed overnight. Steel lagged. Coals are pouring it on.

This is a terms of trade bonanza for Australia right now.

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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.