Daily iron ore price update (plenty more where that came from)

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.

David Llewellyn-Smith
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