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Via the BOM comes a possible short terms spike in the iron ore price as two cyclones threaten to combine into a perfect storm:
- Two tropical cyclones are interacting to potentially create a superstorm.
- At this stage neither is forecast to make landfall in the Pilbara but heavy weather is forecast.
Here’s the forecast path:
TC Seroja not predicted to make landfall
And the formation threatening the perfect storm:
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But best not to go boating
It’s quite late in the season but it will impact prices if it shifts towards the coast.
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.