Daily iron ore price update (when to sell)

Iron ore prices for August 17, 2020:

Spot up. Paper up more. I expect we’ll tear along here for perhaps another month before we see some seasonal destocking:

If you’re trading the miners then this rally is the one to sell. I’d then look to buy the dip for the new year price spike.

Chinese empty apartments are still booming:

The Brazilian virus is still strong:

Though it has been stabilised at high levels so there is some risk of Vale getting more to market into H1, 2021.

For now, I remain bullish with a $130 target.

David Llewellyn-Smith
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