Daily iron ore price update (coking coal joins the crash)

Friday, 19 November 2021

The ferrous complex was weak on November 18, 2022 as spot, paper and steel fell:

Seaborne coking coal futures have now joined the broadening ferrous crash:

Readers will know that my base case is ongoing heavy price falls in everything ferrous as China resumes its shuttered 120mt of EAF steel production that was suspended owing to the power crisis derived from coal and gas shortages.

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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.