Friday Money Mate — 18 Dec 2020
It’s beginning to look a lot like a (COVID) Christmas.
It was a roller coaster of a year for investors as the play book was thrown out the window.
Though many are predicting the rollout of a vaccine over the coming months could help calm the volatility.
The year as a chart
The ASX took a dive in March as the virus hit, but has spent the remainder of 2020 recovering the losses.
Resources stocks helped drive the gains, as the iron ore price climbed to a record high in December.
S&P/ASX 200
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Best performing sectors on the ASX
• Manufacturing e.g. Stocks like Ansell which makes gloves.
• Tech e.g. ZipPay and Afterpay which fuelled a home delivery frenzy.
• Resources e.g. Fortescue as the iron ore price soared to a record high.
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Will Australia sell $100B worth of iron ore in 2020?
- Iron ore exports hit A$81B in nine months to Sept.
- The iron ore is price $US156/tonne.
- Brazil is key as Chinese trade tensions mount.
The value of Australia’s iron ore exports is on track to surpass $100B of exports for the first time since the inception of reporting of Australia’s key commodity data in 1988.
Iron ore exports hit A$81B in nine months to September.
Investment bank Citi has forecast demand for iron ore to remain elevated in 2021 as government stimulus in China is expected to drive economic activity in the near future.r term.
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