Iron ore soars
There was another weekly decrease in China's port stocks, sending iron ore to above $100/tonne at Friday's close:
Brazil's Vale has been forced to shut its mines at Itabira in Minas Gerais due to the pandemic, with a couple of hundred workers testing positive for COVID-19.
Big news for Australia's mining sector...provided relations with China don't deteriorate further!
Meanwhile the oil price liked what it's heard from OPEC and crude rose to be back above $40.