Daily iron ore price update (supply response)

Monday, 19 April 2021

The ferrous complex rallied further on April 16, 2021. Spot price firmed, paper continued to climb though is largely closing a gap to spot and steel was solid:

Vale reports this week so that is one to look out for as it will update the market on its supply resumptions. In the meantime, the news is all about more supply.

Indian iron ore exports hit 6.6mt in March. This is far above the 2020 pace of 48mt of exports for the year.

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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.