Daily iron ore price update (saved)

Friday, 27 March 2020

Iron ore prices for March 26, 2020:

We’re waiting out the shifts in supply and demand. Roughly 80mt of supply is offline as South Africa shuts, joining Vale’s closures.

But, Chinese iron ore output was running at 140mt before the virus. It’s a lot easier to shut a mine than it is a blast furnace so many captured mines will have shut and now be reopening.

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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.