Here are the iron ore price charts for October 24, 2014:
Slightly improved price action with stability in paper markets, including rebar futures. Even the disastrous Dalian May contract which is pricing $67 managed a 4 yuan rise. Offsetting that, physical couldn’t catch a bid with both iron ore spot and rebar average relatively weak. One interpretation f things is that we’ll see the Hebei head fake continue to unwind this week.
A little news today from India where Goan mining leases are to be renewed. But that really only offsets last week’s news of rising imports.
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