Suspension of belief in iron ore

Now things are getting really stupid. Iron ore prices hit $79.40 per mt today, the highest level since October 2014 and up 18% since the beginning of the week. Speculators believe that Trump will juice the economy by massive infrastructure spending that will involve massive amounts of steel being used. And despite all the news to the contrary, speculators believe, i.e., hope and pray, there will be a shortage of supplies.

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of