Iron ore price, page-36460

Yes a bit of a savaging as it (ore) tested 800 y in futures and dropped - China data yesterday which reflected a contraction in services started it imo and then some unexpected Canadian gdp contraction overnight and lower than expected Chicago pmi in USA and ore was pressured

there is also the end of month window dressing where as we all know things go to extremes in all
Directions

personally I think it’s a bit of a reflection of the slowdown caused by China lockdown ( in hindsight it ( ore) really started to ease once they closed their port) and data towards end of month has been a little weaker—

The good news is that China is claiming it has got back to zero cases after a big stoppage and mega testing and don’t think it will be long before there is an rrr cut as they support their banks but continue to crack down on some that have been blatantly excessive with credit

Ore down hard I guess means some wild trading today as volume dollar traded have been heavy since Monday’s report—

see how it goes