Daily iron ore price update (better short than long)

Spot prices stalled. Paper fell marginally overnight. Steel has flamed out as Chinese steel supply restraints have proven pretty loose, via Reuters:

Tangshan, the steel hub of China, imposed last month a set of output restrictions on producers, which will remain in place until August 1.

“The policy declared in Tangshan turned out to be not as strict as we heard last month,” said a Shanghai-based steel trader, echoing a report by an industry website, which Reuters could not immediately verify.

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