Iron ore charts for August 23, 2016:
Spot strong with Tianjin benchmark up 0.8% to $61.60. BHP and RIO jumped 4% and 3% in London. Dalian lost some of yesterday’s gains overnight. Singapore strong. Rebar strong. Reuters has texture:
“Generally speaking, steel fundamentals are strong, and mills are making a big profit and restocking iron ore, ” said Yu Yang, an analyst with Shenyin & Wanguo Futures in Shanghai.