Iron Ore Price, page-13490

Like I said on the weekend, expect this week to be "Volatile".

Volatile means SP will swing up and down, you need to have open mind and look at SP each day (or each minute). Market sentiment changed from positive to negative and vice versa too quickly.

I think yesterday‘s SP hard reversal took a lot of people by surprise, I changed my sentiment from light sell (luckily I don‘t short or have any trading shares left) to light buy to strong buy at the end of the day. Not often you see that in a day without news from FMG.

Now looks like SP should have a good start, DOW didn‘t crash like RCman suggested . DOW up 68 points.

BHP +0.67%
RIO +1.11%
VALE -3.18%
CLIFFS +4.88%
FOTESCUE (FSUGY) +6.83%

IO future 593 yuan +20 or 3.49%
Steel Rebar 3183 yuan +96 or 3.11%
Spot near $80 again.

I think although FA still strong for FMG, and market sentiment is good ATM, but a lot of Macro news still to come so expect more Volativilty in coming weeks.

DYOR.

Frank.