Daily iron ore price update (not steep)

David Llewellyn-Smith

Tuesday, 21 April 2020

Iron ore prices for April 20, 2020:

Spot was strong on Vale cuts. Paper too. Steel is soft and trending down. Is it any wonder when, along with the inventory Everest, output remains at similar levels to last year in CISA data.

I still think we trend down from here without added Vale volumes. There’s still lots to come back from the Summer rains and demand stinks globally.

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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.