Iron ore charts for February 4, 2020:
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A snap back after yesterday is not a surprise. But all questions about demand and supply remain open and tilted bearish, via Mysteel:
Tens of thousands of people in China alone are fighting against the virus and no one knows for sure how long the battle will last. Though many provincial governments expect that most local enterprises should be able to resume normal business around February 9-10, it is really too early – and dare I say, probably meaningless – to discuss steel demand or production in China.
