Here are the iron ore price charts for August 26, 2014:
Paper markets rallied moderately, including rebar futures. Spot has formed a small contango with the 12 month swap, one signal that a reversal maybe at hand. However, it’s tiny so not overly convincing. Prices of port stocks are rumoured to still be falling. The BDI cape is now reversing sharply. Steel First is reporting that both BHP and Rio have closed port berths for maintenance, which may be normal or playing silly-buggers.
Reuters has texture:
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