Here are the iron ore price charts for September 2, 2014:
Paper markets were mixed with Dalian rebounding but the 12 month flat. Rebar futures were smacked to new all time lows. Physical remains weak across the board and spot is sitting right on its post-2009 low. Texture from Reuters:
“We don’t see any bright spots right now – steel mills aren’t making profit and I don’t expect any new stimulus coming from the government any time soon,” said a trader based in the major steel producing city of Tangshan in Hebei province.
