The price of iron ore is increasingly poised between a recovery in supply from exporters and still-robust demand from top importer China on the back on stimulus spending driving steel consumption.
The return of supply, particularly from number two shipper Brazil, would in normal circumstances be a bearish indicator. But if 2020 has shown one thing, it’s that it’s a mistake to underestimate the impact of Beijing’s efforts to boost the economy in the aftermath of the novel coronavirus.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.