Daily iron ore price update (new high)

Daily iron ore price update for Sep 3, 2020:

New highs and my $130 target reached. But not for long given futures pricing overnight.

Chinese empty apartments still strong (and they’re back at the movies):

No change to my outlook. Seasonal weakness ahead. Higher into New Year. Top in April or June as Vale brings volumes and China is restocked.

David Llewellyn-Smith
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