Daily iron ore price update (bullllllllll)

Friday, 1 December 2017

Iron ore price charts for November 30, 2018:

Tianjin benchmark lifted 60 cents to $67.80. Paper is warming up. Coking coal is hot. The steel PMI rose a touch to 53.1 but is hard to read owing to shutdowns.

We’re pretty much into the Q1 restocking patterns now so I expect the bid to remain strong. The risks are to the upside as well as La Nina may trigger Q1 weather events. I can see one last great price surge before the crash if things fall into place.

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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.