Daily iron ore price update (bottom in?)

David Llewellyn-Smith

Thursday 29 October 2020

Iron ore prices for October 28, 2020:

Spot up. Paper up. Everything up.

Empties are back:

It is entirely possible that we’ve bottomed here. Year-end restocking is a very powerful force:

I can’t see iron ore flying away as global markets melt but buying the crash in miners is a good short term play into Q2 next year.

Not advice!

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.