Iron ore prices for September 1, 2020:
Still strong pricing action.
Chinese empty apartments likewise:
And Brazilian virus:
Brazil released export numbers yesterday and they were OK but nothing great:
Volumes are nearly restored to pre-COVID levels so that is some risk out of the market. But it remains to be seen if volumes can increase while the virus holds the nation back.
I’m still bullish beyond the coming seasonal dip.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Latest posts by David Llewellyn-Smith (see all)
- No macroprudential to hose off property this year - March 4, 2021
- The virus will disrupt markets again - March 3, 2021
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