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:
And the formation threatening the perfect storm:
It’s quite late in the season but it will impact prices if it shifts towards the coast.