Iron ore charts for May 18, 2016:
Tianjin spot rose 0.4% to 55.90. Paper had a whacko day going nuts then tanking and holding the losses overnight. Rebar found a bottom which might suggest we have set our range for iron ore now though the rampant US dollar will weigh after the hawkish Fed. Probably still biased lower towards $50 but finding our range here until the Q3/4 falls.