Daily iron ore price update (crash II)

David Llewellyn-Smith

Thursday 1 December 2016

Iron ore charts for November 30, 2016:

The insane iron ore ‘market’ rolls on. Tianjin benchmark plunged 3.9% to $72.20. Paper kept falling overnight. Coking coal futures too. Rebar reversed. Mill margins jumped to their highest since the last crash!

The material around today on the market is wall-to-wall garbage. This is a bubble that Chinese regulators are determined to pop. Sooner or later they will succeed.

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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.