Daily iron ore price update (market suspended)

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Iron ore prices for June 24, 2020:

Spot was up. Paper too. Steel is stalled. CISA output for mid-June is mad:

Steel inventories are rising again off an already huge base. But it doesn’t matter. Steel mills have been operating as policy firms all year. Market forces are suspended.

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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.