As it is said many times over, and particularly applicable today… the only known constant 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 work through this national shut down, markets overseas are full steam ahead in certain sectors. It may be that while demand for products and services related to the oil industry has been lackluster this year, numerous issues with production and supply chains worldwide has already lead to raw material and commodity stock price fluctuations.
The mantra for 2021 will be consistency, so if you haven’t already started planning for next year, you may want to get started on that now!