Iron ore price charts for April 15, 2016:
Spot hit with Tianjin benchmark -1.9% to $57.50. Paper signalling more to come today. Rebar rocket finally flamed out. Ports stock down nearly 1 million tonnes last week. Texture from Reuters: “Steel demand was also expected to slow on views that steel end-users had accumulated enough steel inventories for some time and were waiting for steel prices to fall before repurchasing,” Commonwealth Bank of Australia said in a note.
A pickup in seasonal demand lifted China’s crude steel output to a record high of 70.65 million tonnes in March, government data showed.
