Daily iron ore price update (Brazilllllll)

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Iron ore prices for May 187, 2020:

We’ve now got a pretty good restocking pulse going. Some of it is doubtless steel mills looking at Chinese stimulus but the recovery is still slow and halting:

The more important driver remains the supply side, in particular Brazil, which is inking into virus hell. Only six weeks ago it had roughly the same case numbers as Australia. Now it is number five globally and charging towards the top:

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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.