Texture from Reuters:
But Darren Toh, data scientist at Singapore-based steel and iron data analytics company Tivlon Technologies, said he remained bullish on iron ore.
Steel inventory is easing and the pace of infrastructure projects is accelerating, said Toh, adding that increasing property investment was also being seen.
Meh. It’s seasonal. To the charts:
Spot stable. Paper reversed. Steel is weak still and at the precipice. All that can save iron ore from lower here is restocking. Given we’re almost in November, the odds favour firm pricing through February now.
Then down again.