Daily iron ore price update (convulsive)

Iron ore price charts for December 11, 2018:

Spot is treading water. Paper jumped convulsively when it learned that Chinese credit is crashing. Coking coal contracts rolled forward. Steel is weak and getting weaker.

Iron ore these days rises long before any actual stimulus meaning that strength is greeted with price rises and weakness with the same. This is pretty stupid and I expect it will come-a-cropper in Q1 as real demand dives with steel prices.

For now, let’s pretend.

Comments are hidden for Membership Subscribers only.