143 days ago • Posted by William Ramstein

Iron roars; prices soar in fears of low supply

Prices soar to highest level since 2011 almost 100% it's value at the beginning of the year. Iron ore is the main ingredient in steel is one of the most traded commodities and best performing assets of 2020. Australia is the biggest exporter followed by Brazil. Brazil's famous Vale location suffered a fatal landslide and had to interrupt operations for a week. Supply in Australia is also threatened by its annual cyclone season. The market is placing a supply risk premium on prices at the moment. Analyst forecast an increasing price due to strong Chinese steel output and softer production forecasts in Vale. Source: S&P Global Platts

iron ore prices up