Daily iron ore price update (sky is the limit)

David Llewellyn-Smith

Tuesday, 19 May 2020

Iron ore prices for May 18, 2020:

Whoho! And we’re off. Spot to the moon. Paper…moon. I would like to see rebar break its downtrend too but the huge inventory overhang explains that. Port inventories are cratering.

Add Brazil sinking into virus disaster and China reverting to form with building stimulus – which will get stronger in trade war and the weaker its broader recovery – and you have the perfect conditions for a new iron ore boom.

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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.