Business
Fundies fret over peak iron ore – The Australian Financial Review
Australia’s iron ore giants may lose ground on Monday, while a mostly weak performance from the US sharemarket is also likely to dampen sentiment.
Iron ore prices have surged since late last year when positive late-stage COVID-19 vaccine trials encouraged investors to look ahead at a global economy emerging from the depths of the pandemic.
The iron ore surge before Friday had been driven by a pick-up in steel demand, not just from China, but globally, Mr Curtayne said. Global steel output climbed 23.3 per cent in April from the same month a year ago, as mills recovered from COVID-19 related shutdowns in 2020, according to the World Steel Association.
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