Did the energy bubble just burst?

David Llewellyn-Smith

Thursday, 21 October 2021

It may well have, certainly for coal. Thermal coal futures were massacred again yesterday:

Coking coal suddenly looks like iron ore:

The Chinese intervention into what was stark raving mad market movements did the trick. Here is more texture:

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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.