Daily iron ore price update (another coking coal wipeout)

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The ferrous complex was strong on October 26, 2021 as spot lifted, paper firmed overnight and steel bounced:

We appear to be range trading for now though steel not falling helped.

But how long can that last as coking is eviscerated, limit down to all new lows overnight:

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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.