Iron ore fell on March 5, 2021 along with the broader ferrous complex. The global market rebound did nothing to restore it:
Yet signals are still bullish. CISA output is completely insane:
Yet the Luna New Year inventory rebuild is pretty modest:
I would normally say that this is all bullish. But, mill margins are still crushed so they are not going to restock raw materials:
We’re in a market stalemate.