Daily iron ore price update (ain't no virus here)

Iron ore price charts for January 21, 2020:

Everything stable. Bloomie sums it up for me:

Vale, a critical piece of the steel ingredient jigsaw, won’t report fourth-quarter production until February, but third-quarter output was already up 35% on the previous three months, and the Brazilian giant could return to pre-Brumadinho levels by 2021. All three of the big iron-ore suppliers — BHP, Rio and Vale — are working toward incremental though ambitious supply targets. In 2020, Bloomberg Intelligence estimates the three will add 44 million tons — a not insignificant 3% of the year’s projected output. China’s production, meanwhile, has also edged higher.

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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.

Daily iron ore price update (ain’t no virus here)