Iron ore charts for May 16, 2016:
Tianjin benhcmark firmed 0.6% to $53.80. Paper firmed. Rebar is collapsing back to earth. The bottom for iron ore in the short term cannot be called while this continues. The new Platts Steel Sentiment Survey is not encouraging:
S&P Global Platts China Steel Sentiment Index — May 2016
(a figure over 50 indicates expectations of an increase; under 50 indicates a decrease)