Guys
The short bs was out in force over the weekend following the Chinese statement there will be no property tax. Immediately following that the late night futures prices were up 12 yuan.
Business insider has two absolutely rubbish articles about future supply by HSBC which are so wrong and lopsided its not funny- no mention of increasing steel demand, no mention of arc furnace close downs no mention of emissions controls affecting poor quality Chinese mines ability to reopen.
Its really simple the emissions requirements are so stringent that it will cost the mills more to get low 20% iron ore to the requisite quality than to pay the seaborne price - won't happen.
Clearly they want FMG below 6.
FMG / IO Outlook and News, page-58
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$20.10 |
Change
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Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
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| Price($) | Vol. | No. |
|---|---|---|
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