Daily iron ore price update (to the moon!)

David Llewellyn-Smith

Tuesday, 18 February 2020

Iron ore price for February 17, 2020:

Spot is still running. Paper even harder. Port stocks fell a little. This is normal restocking for this time of year, so long as you overlook COVID-19. It doesn’t make sense to me given the size of the demand hit but it is at least arguable. And it is about to get another boost, via AFR:

Rio Tinto has slashed millions of tonnes from its iron ore production guidance in the aftermath of wild weather which hit the company’s mining operations in Western Australia.

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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.