Daily iron ore price update (still bullish)

Iron ore prices for July 16, 2020:

Yesterday’s China data was about as bullish as it can get for iron ore. Credit and housing prices are pushing higher. Empty apartments are booming:

Steel output is mad:

And, the inputs into production have reoriented away from scrap:

Basically, blast furnace production is dominating EAF in way it has not done for five years.

Onwards and upwards!

David Llewellyn-Smith
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