Here are the iron ore charts for September 9, 2014:
Mixed paper markets with Dalian flat but Singapore 12 month swaps down. Still no spot/12 month contango signalling a turn. Most concerning, steel futures and physical prices are still tumbling and price weakness is starting to spread outwards from China to, well…everywhere, from Marketwatch:
The health of China’s steel sector may be poised for a less than robust immediate future, according to the latest Platts China Steel Sentiment Index (Platts CSSI), which showed a September reading of 45.88 out of a possible 100 points. This is down 1.09 points from an August reading of 46.97 and is the third consecutive month the index has remained below 50, indicating that market participants see demand for steel softening.