Daily iron ore price update (still steel)

Thursday, 28 May 2020

Apologies for lateness today. Been wrestling with a Telstra bot all morning. Iron ore prices for May 27, 2020:

Not much in news. Here’s the latest steel inventory chart:

Looks impressive but it isn’t. Seasonally-adjusted the stock is just as high as it was at its peak. The reasons why is that demand remains relatively weak:

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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.