Daily iron ore price update (DXY)

Iron ore prices for July 24, 2020:

Spot down. Paper down more. CISA steel output remains ridiculously amid high and rising inventories. I am not concerned about it because market factors have been suspended. This is policy-driven output.

I still see iron ore as strong until Sep/Oct seasonal weakness. Even more so if DXY keeps falling.

David Llewellyn-Smith
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