Something normal to open the week …
Iron ore up $3 according to Richie2013 on an AGO thread.
“Spot prices for 63.5% Fe iron ore were assessed at $116-117 per tonne cfr on Monday, up $3 per tonne from last Friday.“
Iron ore up 3.5% according to book on an FMG thread.
“Could this be the turnaround I/o futures up3.5% source reuters.
China rebar, iron ore futures hit 3-week high on demand hopes
Mon Mar 31, 2014 10:01am IST
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* Dalian iron ore climbs 3.5 pct, Shanghai rebar up 1.1 pct
* China steel consumption seen picking up from April
* But Dalian ore, Shanghai rebar still down for a 4th month “
Iron ore price for the April 2014 contract is presently 114.62 as shown here.
FMG, bought back in this morning. In the red at the moment, but with the above positive press, plus several articles in the news spruiking a market run up to the NFP on Friday, plus China stimulus rumours, I am hopeful that FMG will pay me again. In the past two months I have opened 7 FMG long trades, with initial open prices ranging from 480 to 567. My first 6 FMG long trades have all been winners, hence, I would hate to spoil the record with a loss on my 7th FMG long trade.
BDR, gained some ground today. Gold is still shaky, but at about 1296 at the moment. I will use a tight stop on this long trade to protect the paper profit provided today.
BHP, had a bid in the market again today, but didn’t get hit. In hindsight I probably should have just bitten the bullet and opened a new long trade this morning.
RIO, surprisingly only up a little today, but at least it is going in the right direction.
MGX, MIN, ORI, OZL, SFR, TLS, and WES … was considering opening long trades in these today, but didn’t for one or more of the following reasons.
- Not enough volume offered unless I took out multiple levels, or placed a bid and let it sit there. I didn’t want to do this latter option as I had to go out, and I couldn’t be bothered opening a very small volume trade.
- The spread between the bid and ask prices was too big, eg: ORI this morning.
- The SP gapped up too much, eg: BHP, OZL and TLS this morning.
- I couldn’t make up my mind in the limited time I had this morning.
