Daily iron ore price update (meek return)

Thursday, 7 May 2020

Iron ore prices for May 7, 2020:

Nothing much to crow about there after the holiday. Citi is bearish:

Citigroup on Tuesday lowered its forecast for iron ore prices which it expects to hit $70 in May due to softening steel demand that will weigh on prices, it said in a research report.

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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.