Daily iron ore price update (iron ore for rifles)

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Iron ore prices for May 22, 2020:

Spot down on Hong Kong tensions. Paper and steel too. CISA major mill output for early May was the highest ever. My guess is that’s because a lot of EAF production remains offline.

The reality is, end-user demand is still weak, via Capital Economics:

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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.