Here are the iron ore charts for July 31, 2015:
As well as Qingdao falls, Tianjin benchmark iron ore fell 3% to $52.90. Unusually, this was despite only minor moves falls in Dalian and rises in Singapore. Indeed, Dalian rallied Friday night to 370 and is virtually unchanged from Thursday. The rebar average bounce continues as CISA mid-July steel output data tanked 3.35% to 1.65 million tonnes. The Chinese steel PMI was also out over the weekend and showed conditions getting worse at a slower rate in July:
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PMI | Output | New Orders | New export orders | |
Jun-15 | 37.4 | 34.2 | 27.9 | 50.7 |
Jul-15 | 41 | 41 | 36.6 | 56.1 |
And the chart: