From the ANZ today:
Newcastle Sep coal futures lost 0.4% to USD89.9/t, while iron ore again fell heavily, losing 4.7% to USD90.3/t. Chinese steel prices continue to weigh on iron ore. Hot-rolled coil is nearing a month long losing streak, while the most active rebar contract on the SFE hit an all time low yesterday with open interest at record highs. Meanwhile, coking coal continued the trend in bulk markets, decreasing 1.2% to USD163.10/t. Volumes remain very subdued due to the impact of the weak Chinese steel market. Spot market participants appear to be waiting for price signals from the results of Q4 contract negotiations.
