Daily iron ore price update (cancelled)

Tuesday 25 February 2020

Iron ore prices for February 24, 2020:

Everything roughly flat. Iron ore port stocks fell to 128.6mt:

I suspect virus-troubled local production may be supporting seaborne prices in the short term. I don’t expect it to last as the massive steel pile leads to output cuts soon. Chian remains substantially shut.

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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.