Daily iron ore price update (off to the races)

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Iron ore price charts for November 22, 2017:

Tianjin benchmark launched $1.60 to $65.60. Paper went nuts overnight. Coking coal tore the roof off and is now as speculative as iron ore. Steel is firm.

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Banana Man is in control now. Using the cover of the Winter shutdowns as an excuse for fading macro data, the bear case it forgotten. This is going to run. Expect inventories to keep rising.

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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.