Daily iron ore price update (rainy conditions)

Friday 4 December 2020

Iron ore prices for December 3, 2020:

The red hot rally continued overnight. Steel is not going with it which is a standing warning. Another is this little snippet from Reuters:

Brazil’s Vale trimmed its 2020 output guidance to 300 million to 305 million tonnes, from a previous target of at least 310 million tonnes.

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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.