Here are the iron ore charts for June 23, 2015:
Qingdao spot firmed but Tianjin benchmark fell 10 cents to $60.50. Singapore doesn’t care. Dalian rose modestly but got moving overnight and is up another 7 points this morning at 436. As I’ve said, price falls will not be consistent until Chinese iron ore inventories rise. Rebar average continues to plod into the abyss. Honestly, China might as well just give away steel for free. CISA fast data showed a modest 2.2% uplift in production in early early June but it is still well below last year.
Texture from Reuters:
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