Iron ore prices for August 19, 2020: Nothing changed. Empty apartment sales to the moon: Brazilian virus strong: Onwards and upwards.

Iron ore prices for August 18, 2020: Do not adjust your TV. Spot is approaching my $130 target and I may have been too bearish. Paper to the moon. Rebar too. I suspect coking coal is being destocked in a desperate bid to sustain steel mill profitability. This still has a month or so to

Iron ore prices for August 17, 2020: Spot up. Paper up more. I expect we’ll tear along here for perhaps another month before we see some seasonal destocking: If you’re trading the miners then this rally is the one to sell. I’d then look to buy the dip for the new year price spike. Chinese

Via Yahoo: With iron ore markets tight and margins at astronomical levels, Vale SA (VALE) has announced that its board of directors have approved the implementation of the Serra Sul 120 Project, in Canaã dos Carajás, Brazil. The Serra Sul 120 Project consists of increasing the S11D mine-plant capacity by 20 Mtpy, which will total

Iron ore prices for August 14, 2020: Last week saw a correction in miners but not iron ore. I am still bullish. This market is seriously hot. Exports in July were mad: July output was mad: Early August output was mad: Some macro signals – credit and FAI softened late last week – but there’s

Iron ore prices for August 5, 2020: Spot up. Paper up more. Iron ore has now caught the monetary tailwind out of the falling US dollar. Chinese empty apartments are still fine: Brazil is still sick: But it has exited shutdown more swiftly than elsewhere: I’m still hanging on. But if we get one more

Iron ore prices for August 4, 2020: In news, Brazil shipped an improved 34mt in July: If Brazil can put together a few months at those levels then it is going to hit the iron ore price. Aussie miners are chucking out ore like madmen as well: There is still the Brazilian virus to worry

Iron ore prices for July 31, 2020: Spot stable. Paper up. Steel plodding along. The Chinese Steel PMI was out and it wasn’t great: That’s some meh levels that do not justify today’s prices. But that only strengthens my notion that this is a policy-driven rally with steel mills pumping the stuff out purely to

Iron ore prices for July 31, 2020: Vale released its results and claimed to be on track to meet its volume guidance. Via Bloomie: “Following the reduction of uncertainties related to the pandemic, with risks of a second wave in China mitigated and the stabilization and decline in COVID-19 cases, especially in the northern states

Iron ore prices for July 29, 2020: Chinese demand still looks good: Brazil still looks bad: RIO loves it: Rio Tinto says China’s heavy industry is working at full speed and the Chinese economy could grow at up to 8 per cent next year, fuelling demand for Australian commodities like iron ore. China has responded

Iron ore prices for July 28, 2020: Chopping around broader risk sentiment. Port inventories hit 115mt last week: How high they go this round will depend upon how long Brazil is out. I’d say at least 140mt. Brazil’s virus count is still very bad: Chinese empty apartment demand is still good: Still no end in

Iron ore prices for July 27, 2020: Spot down. Paper more. I remain bullish. Empty apartments to the moon: Brazilian virus to the moon: That’s all we need for strong Q3 prices.

Iron ore prices for July 24, 2020: ‘ Spot down. Paper down more. CISA steel output remains ridiculously amid high and rising inventories. I am not concerned about it because market factors have been suspended. This is policy-driven output. I still see iron ore as strong until Sep/Oct seasonal weakness. Even more so if DXY

No charts today. The iron ore price was up 80 cents to $111.20. Dalian future were hit 2% overnight to 838. Not much in news. I still expect a strong pricing environment for Q3 once China’s rains pass.

Iron ore price for July 22, 2020: Some material from Clyde Russell: China imported 101.68 million tonnes of iron ore in June, a 33-month high, taking imports for the first half of 2020 to 546.91 million tonnes, up 9.6% over the same period in 2019. Japan imported 5.08 million tonnes of iron ore in June,

Iron ore prices for July 21, 2020: Vale released its quarterly update and is surely joking: To meet its guidance Vale will have to do this: Vale said the pandemic had reduced its iron ore output by 3.5 million tonnes over the past three months, and would reduce output by a further 6.3 million tonnes

Iron ore prices for July 20, 2020: As noted yesterday, port inventories are climbing now: Fear not, there is months of this ahead yet. Chinese activity data ex-empty apartments is still pretty stalled: Brazilian virus is still pretty bad: I still see strong prices for this quarter at least.

Iron ore prices for July 17, 2020: Still solid. I still think we go higher. But there are some topping signs emerging. This: Still plenty of room to rebuild inventory but we have turned. And this: Brazil is flattening the virus curve. A drawdown is not imminent but the seasonal weakness in September/October could turn

Iron ore prices for July 16, 2020: Yesterday’s China data was about as bullish as it can get for iron ore. Credit and housing prices are pushing higher. Empty apartments are booming: Steel output is mad: And, the inputs into production have reoriented away from scrap: Basically, blast furnace production is dominating EAF in way

Iron ore prices for July 14, 2020: Spot powered on. Paper flamed out. Trade data is bullish with China nearly breaking the imports record in June and growth now surging: Conversely steel exports are destroyed, not that it matters: Data remains crap outside of empty apartments and bridges to nowhere: Brazil is still buggered: Onwards

Iron ore prices for July 13, 2020: I think we’re headed straight to $130 here. Chinese data remains subdued outside of empty apartments: Brazil is still sickening: More Chinese steel mill restocking ahead.