Iron ore prices for 17 September, 2020:
Lot’s of media panic about the peak is in blah, blah, blah. This is classic seasonality:
BTFD. China has the credit pedal to the metal and given what will be a shite global recovery will have to leave there in 2021:
And there’s lots more restocking of ore coming as well.
No sustained and material peak (at least in average prices) until mid-next year.
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.
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