I'm starting to wonder if Iron Ore might be the new gold (and as such people start buying FMG/BHP/RIO and the rest).
The price has been very strong since the outbreak was contained in China, and surely we expect some supply-side issues in Brazil. Add to that, all countries are going to have to provide stimulus, which is often in the form of infrastructure.
Lastly, and I think this is important, the time for a ship to take our ore across to China (or to come back) is 10-15 days, which essentially means that the crew is undergoing their own 'quarantine' while working on the ship. Unlike many other goods, I don't see a significant impact to supply lines (with the caveat of a local case at loading ports).
I'm starting to wonder if Iron Ore might be the new gold (and as...
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$18.18 |
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Mkt cap ! $55.97B | |||
| Open | High | Low | Value | Volume |
| $18.26 | $18.41 | $18.18 | $200.9M | 11.00M |
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| No. | Vol. | Price($) |
|---|---|---|
| 6 | 6678 | $18.17 |
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| Price($) | Vol. | No. |
|---|---|---|
| $18.19 | 70000 | 3 |
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