Daily iron ore price update (erosion)

Wednesday, 8 April 2020

Iron ore price for April 7, 2020:

Not much news to report. I still see prices falling away from here as the global recession deepens. The only real risk to that is if the virus forces some further large scale shutdowns for Vale or elsewhere. Via Platts:

Steel demand is falling outside China, with Japan’s Nippon Steel the latest producer to idle blast furnaces and iron ore and met coal suppliers preparing to defend sales volumes.

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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.