Daily iron ore price update (Deutsche bear)

Find below the iron ore price table for May 22, 2013:

In news today, Deutsche is out with a new report predicting another 8% drop in spot. From Businessweek:

Steel prices that have been pressuring Chinese mills are stabilizing as facilities shut down due to power shortages in Hebei province, and more will close for routine maintenance and to draw down surplus steel inventories, Deutsche Bank said.

“There remains some life in the market yet despite the operating pressures facing Chinese steel mills,” Deutsche Bank said in the report. “We expect that more shutdowns will occur over the near-term, ostensibly for refurbishment. However, we believe that the market needs to be rebalanced and excess steel drawn down from inventory.”