Daily iron ore price update (mother melt-up!)

David Llewellyn-Smith

Monday, 7 December 2020

Take that Beijing! Iron ore prices for December 5, 2020:

Spot to the moon. Paper rolled forward. Steel is not keeping pace and output is steadily diminishing as the year winds down.

Steel inventories have been easing and port stocks have stopped climbing but neither of those explain this. Supply may not be abundant but it’s fine and expanding.

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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.