Daily iron ore price update (Brazil boom)

Friday 2 July 2021

The ferrous complex was firm on June 1, 2021 with spot stable, paper easing and a steel pop:

Not much in news but Brazil release June export numbers and they went boom at 33.5mt, a 400mt annualised run rate:

This level won’t be sustained but it does go to show that Brazil is ramping back up into peak season and will keep doing so year-over-year henceforth barring any further shocks.

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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.