Here are the iron ore charts for November 29, 2014:
Better price action in paper markets with something of short squeeze underway. Physical is tracking it though rebar average continues to fall. I still don’t think we’re entering anything so grand as a year-end restock. Previous rebounds in the 2014 downtrend have managed to put on $10 or so each time and I’d guess that that is the best case scenario here, with less likely.
In news, it all about the slow dawn of iron ore horror, from prominent fund manager Shanghai Jianfeng vice-president Liang Ruian via The Australian:
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