Daily iron ore price update (market suspended)

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.

Broader data is still soft:

Brazil is still sickening:

I still see higher iron ore in Q3.

Houses and Holes
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