Massive volume bigger than yesterdaywithin first hour half of...

Massive volume bigger than yesterday

within first hour half of the usual volume went through someone buying like crazy who is buying?

Something is happening here.

Take a look at this article

Right here right now the spot markets are in turmoil as Vale dumps cargoes, traders who have been caught long at higher prices cut that trading inventory, and Chinese steel mills sit on their hands and run down inventories. It is estimated that Chinese steel mill inventories are down to 10-15 days, down from an average inventory position of 30-35days. The trading houses are waiting for the knife to stick and the whole situation has turned into a buyers strike. read it yourself iron should go up soon!!!

http://ftalphaville.ft.com/blog/2012/08/30/1138051/in-defence-of-the-iron-ore-price-floor-and-fortescue/