Iron ore prices for Septemeber 15, 2020:
Baseline is last week’s prices. Overnight futures copped it. Spot prices remain strong:
Steel is holding up:
Yesterday’s China data cleared up any mystery about why prices are high with crazy steel output:
As well, mills have a long way to restock iron ore inventory:
This restock has another six months to run. Prices will come off when Vale adds volume but be strong until the restock subsides.