Iron ore price charts for July 24, 2018:
Spot firmed. Paper too. Coking coal to the moon, gripped by Chinese stimulus fever.
The new measures are not material in context. It’s growth slowdown support not a new credit boom (yet). It doesn’t change my outlook which I already lifted on better housing. It is for typical seasonal patterns ahead. Solid pricing until the Q4 slowdown and detock strikes.
Advertisement