Daily iron ore price update (take the under)

David Llewellyn-Smith

Thursday, 9 April 2020

Iron ore prices for April 7, 2020:

Spot up following Dalian. Steel is trending lower. It should be crashed but that will have to do, at Reuters:

Nippon Steel Corp, Japan’s biggest steelmaker, will temporarily shut two blast furnaces in Japan later this month to cope with declining demand due to the coronavirus pandemic, it said late on Tuesday, cutting about a tenth of its capacity.

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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.