Iron ore price charts for November 4, 2017:
Tianjin benchmark didn’t budge from $69.30 which means paper is done or it did not update. I’d guess the latter. Paper flamed out but so long steel keeps running so will it regardless of the sense in it. CISA weekly output for mid-November showed the first clear evidence of shutdowns, falling 1.7% to 1.77mt per day. It is now only 0.5mt above the same time last year when earlier in the year it was 0.18mt. There’s your rebar shortage.
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No change. Onward and upward into the shutdown blowoff.
