Futures roll, Sept is taking over May as the active month. Pumps up volumes in both contracts for a while.
Looking at broker activity over the last two weeks, there was really nice Insto accumulation going on from Citibank , Bell Potter & ABN. Then it just stopped dead and now the activity is totally retail dumping (comsec, e-trade etc). It seems to completely coincide with FMG's profit downgrade.
Iron ore price, page-9596
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