Daily iron price update (saved by coal)

Friday 13 October 2017

Iron ore price charts for October 12, 2017:

Tianjin benchmark fell 40 cents to $57.40. Steel futures caught up to some Golden Week losses. Coking coal is saving the complex. Reuters explains:

Northern China’s Shanxi province, the country’s top coal producing region, will aim to cut concentrations of hazardous airborne particles known as PM2.5 by 40 percent over the winter months, the official Xinhua news agency reported.

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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.