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Prices soar to highest level since 2011 almost 100% it's value at the beginning of the year. Iron ore is the main ingredient in steel is one of the most traded commodities and best performing assets of 2020. Australia is the biggest exporter followed by Brazil. Brazil's famous Vale location suffered a fatal landslide and had to interrupt operations for a week. Supply in Australia is also threatened by its annual cyclone season. The market is placing a supply risk premium on prices at the moment. Analyst forecast an increasing price due to strong Chinese steel output and softer production forecasts in Vale. Source: S&P Global Platts

Early 2020, you could buy around 100 barrels of Brent Crude with a Bitcoin. today, one of these coin will get you not less than 450 barrels. No big deal. Concededly, we might think of it the other way around: in terms of energy, how many barrels of oil does it take to mine an additional Bitcoin?

Crescat capital views this as a very bullish sign both for precious metals and the miners. They highlight that it is the first time in history that miners have reported 4 straight quarters of positive Free Cash Flow, i.e they are no longer capital destroyers.

Oil plunges below $50. Second strain threatens more lockdowns across Europe. At one stage Brent futures slumped 6%. 16 million Brits received stay at home orders with some freight movements from France to the UK halted completely. OPEC considers adding 500,000 barrels a day of production on the market starting January 4th. Source: Yahoo Finance

Urban averages in the US Consumer Price Index show upswings according to the Bureau of Labor Statistics. An increasing CPI and the lowering strength of the US dollar pains domestic consumption in the short run, and usually hinders employment performance. Negative effects on small business, consumer welfare, and a variety of elastic consumer markets who adversely react to increasing prices. Source; data.bls.gov