Daily iron ore price update (toast)

Reuters has texture:

Coking coal inventory across ports in China stood at 5.73 million tonnes, as of July 19, up 36% from a year ago and 107% this year, she said, while news of renewed audits on anti-pollution measures by mills also weighed on coking coal.

However, prices had stabilised, helped by a switch to lower-priced coking coal to improve steel margins, said Lau.

“Overall, we expect … prices to stay high after September on increased steel production,” she said.

Meh, if iron ore goes so will coking coal. To the charts:

Spot up. Paper up more. Steel hanging on.

Yawn, it’s toast.

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