UBM - Finally Gravity Is Reasserting Itself On Iron Ore Prices
By Stuart Burns
Just as we were about to go to press with an article on the surprising resilience of seaborne iron ore and coking coal prices in Asia, the market in Asia closed yesterday with heavy falls - they beat us to it.
Supply disruptions and what looks like an overly optimistic assessment of likely stimulus measures have supported iron ore and coking coal, despite the collapse of just about all other commodity prices.
Benchmark iron ore had remained above $90 per ton all quarter, falling just 1.1% from 2019 closing