Like folks say time and time again, and it sure rings true today… the only thing you can count on is change.
“Erik Hedborg, senior analyst at commodity firm CRU, told CNBC Friday that China’s strong economic performance and infrastructure stimulus had led to a surge in demand, running down already-low inventories and tightening market conditions. In tandem, seaborne supply from iron ore powerhouses Australia and Brazil has also diminished.”
China’s iron ore prices spike 10% to a record high on supply concerns (cnbc.com)
While we're all workin' our way through this national shut down, dem markets overseas are runnin' full steam ahead in certain spots. It might just be that while demand for products and services tied to the oil industry has been a bit lackluster this year, a whole mess of issues with production and supply chains worldwide has already stirred up raw material and commodity stock price fluctuations.
The mantra for 2021 is gonna be consistency, so if y'all ain't already started plannin' for next year, you might wanna get to it right quick!
