Daily iron ore price update (TSIPIO62 Index)

Yesterday’s iron ore price action was of the consolidation variety:

But Chinese steel prices continue to improve:

David Llewellyn-Smith
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  1. I smell a big fat rat with these steel prices. They’re either concocted or someone’s manipulating the price.

    In my book forget the hard landing rubbish. The Chinese economy crashed a few months back when power usage fell off a cliff. She’s currently skidding down the runway with bits and pieces coming off. I’m waiting to see if she breaks up and turns into a fireball.