Here are the iron ore charts for November 4, 2014:
The paper market free fall continues with Singapore 12 month swaps down (January delivery fell to $76 as well) and Dalian futures down more still (Jan $69 and May $66 using a 20% discount for taxes and other charges). However, rebar futures bucked the trend and rose firmly. The same pattern transpired in physical with rebar average up and iron ore spot down (Qingdao 50 cents above 5 year low and benchmark already there at $77.10 ). Chinese port stocks fell another 750k tonnes last week to 106.3 million tonnes. Still very high with plenty of room to destock if mills so choose.
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Texture from Reuters: