Daily iron ore price update (mystery tumble)

Iron ore prices for August 25, 2020:

CISA steel output remains huge:

As empty apartment sales rise:

More:

In other news, there was a mysterious crash in Australian exports in July, at the AFR:

Iron ore exports to China fell 12 per cent or $1.11 billion to $8.12 billion, while coal exports to the country fell 42 per cent or $653 million.

Preliminary figures from the Australian Bureau of Statistics show the overall value of exports declined by $1.96 billion or 6 per cent to $29.1 billion.

It would be premature to draw any conclusions from this yet.

Overall, I still see China needing to restock ore over the next six months so also see this sell-off as temporary.

David Llewellyn-Smith
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