Tianjin benchmark trade resumed after CNY and fell 0.4% to $US44.50.
Over the years I’ve given the ANZ’s commodity team a bit of curry for their consistently wrong bullish outlooks on iron ore. That changed a year or more ago when they “got it” and have been some of the most bearish since. Today continues that good work when assessing the post-CNY prospects for dirt:
• The weaker than expected exports from Australia and expectations of restocking amid tighter steel markets have provided some temporary support to iron ore prices.
