Friday saw the ore price end the week on a soft note:
Not much to add except to say that the 12 month swap looks reasonably priced at these levels given the outlook:
Chinese steel prices took a breather:
And there is still no real drawdown on Chinese port inventory:
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Daily iron ore price update (blow off)
Texture from Reuters: Financial markets in China
Citi: Iron ore to $55
Via Bloomie: “Steel demand is no longer going
Daily iron ore price update (restock)
Texture from MySteel: China’s imported iron
Daily iron ore price update (yawn)
Charts for September 10, 2019: Spot up.