Daily iron ore price update (that’s all you got?)

Thursday, 29 November 2018

Iron ore prices for November 28, 2018:

Spot up. Paper down. Steel up. Coking coal is rock solid.

Is that really all it’s got? There’s no forced liquidation there. Just a few mills bashing the price lower for a few days to repair margins. Paper is still weak so there may be more ahead but it was physical that led the move so I’m inclined to say it’s already over. As we know, the new year period is strong so it was always going to turn pretty quick. I’d just hoped we might see a little more of the good ‘ol days first.

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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.