The global pandemic seems to have had little impact on the iron ore market, with prices remaining above $80/t, strategists at ANZ bank apprise.
Key quotes
“Demand has held up relatively well, with inventories of iron ore held at ports haven fallen consistently.”
“Steel production in China has been robust but supply disruptions may have also played their part. This will be confirmed or dispelled in coming months, with exports from Brazil and Australia expected to pick up strongly.”
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