Here are the iron ore price charts for May 14, 2015:
Advertisement
Apologies for lateness this morning, data issues. Qingdao spot held up well. Tianjin benchmark was weaker at -1.3% to $61.20. Paper is retracing. Singapore doesn’t believe. Dalian had a shocker but is stable overnight. Rebar average is right on an all time low.
There’s clearly still better physical action than paper. Price erosion remains the base case.