IRON ore’s ongoing run above US$100 a tonne is begging the question as to how long a price rally can sustain on fear of an event that is yet to present itself in the evidence.
The surge to a 10-month high on June 8 of US$105.75 a tonne in spot iron ore for delivery to China, as assessed to by commodity price reporting agency Argus, was largely built on market concerns that shipments from number two exporter Brazil would be hit by coronavirus shutdowns at mines.
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