Daily iron ore price update (more Brazil)

Iron ore prices for November 3, 2020:

Spot fell. Paper more. Port inventories are restocking nicely with another six months to run:

Empties are fading again. The growth rate trend is down:

Brazil had another good month of shipments given October had fewer working days than last year:

No change to the outlook. Firm across new year and Q1 then more decisively down, down.

David Llewellyn-Smith