Port quotes were marked down anywhere between $2-$3/t today. So spot should be around $111-$112/t
Domestic ore prices held steady today, with only $1-$2/t falls being recorded in Shanxi and Hebei province.
As far as I can see, the rut is only effecting port stocks which are being sold down and on the paper futures markets. So it's likely a credit driven event. (The Dalian futures open contracts are diminishing and I'm pretty confident they'll hit the ground floor by exercise date in May! Still haven't heard of any io producers or steel mills using them).
er6, why wait for them to get published tonight, when you should have a fair idea what it's going to do by lunch time here? Just have a look what the traders are doing at the ports... they were dumping on the open market today to whatever bids that came in... must have been a stressful day for them. Congrats, you made good money today! at least learn why you had a pile of cash hit your pocket! otherwise the pick-pockets will take it from you just as easily :)
AGO Price at posting:
93.0¢ Sentiment: Buy Disclosure: Held
