Daily iron ore price update (dead cat bounce?)

Monday 16 October 2017

Iron ore price charts for October 9, 2017:

Tianjin prices jumped 4.5% back to $60. Paper went higher still overnight. Coking coal is slowing. Steel futures went nutso!

The cause of the excitement was Chinese trade data which really did impress with iron ore imports soaring to 102.8mt, highest ever by some margin:

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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.