Here’s the iron ore price table for December 17, 2013:
Rebar futures were also hit. Here’s Dalian six month futures, which are still trading around $120 equivalent:
The key level to watch is $131. Spot has not traded below that since July. If we break through, it’ll likely portend a deeper pull back. The BDI capesize index is getting smashed but from recent highs:
I’m agnostic until $131 breaks.