Iron ore prices for March 23, 2018:
Tianjin benchmark was thrashed -5.4% to $64.05. Paper stabilised overnight but that was before broader markets fell away. Steel is getting hammered.
We’ve much lower to go yet. My targets remain 300o yuan for rebar, $50 for iron ore and 1000 yuan for coking coal in the next three months. Then little recovery in H2.