Daily iron ore price update (bearish)

Thursday 1 October 2020

Iron ore prices for September 30, 2020:

The whole complex launched on the Port Hedland virus scare. A big overreaction unless I’m missing something and the virus has already skipped the boat.

Underneath that, the broader signals are still weakening. The Chinese steel PMI was downright poor with new orders a particular concern:

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About the author

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.