Here are the iron ore price charts for October 27, 2015:
Spot flat with Tianjin benchmark unchanged. Singapore 12 month swap are at new lows. Dalian six month futures are hanging on grimly. Rebar is flat for a change. Nothing changed, going lower, from Bloomberg:
“It’s going down significantly,” Katie Hudson, managing director and senior investment manager at Goldman Sachs Asset Management Australia, said in an interview on Tuesday. “The major producers are adding incremental volume at around $US20 a ton, that gives you a sense of where the vulnerability is. We have a more cautious view on the iron ore price today that reflects both our concern about increasing supply and what we see as a more modest demand environment The iron ore price has got significant downside risk from here.”
