Daily iron ore price update (Port Hedland)

Friday, 10 November 2017

Iron ore prices for November 9, 2017:

Tianjin benchmark fell 60 cents to $61.90. Paper fell more overnight. Coking coal too. Steel is stuck. Port Hedland shipments in October were soft at 41mt. We appear to be range trading around Banana Man. We should already be at $50 on fundamentals so who knows where we go short term.

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.