Interesting graphs. Nice to see shipping costs dropping but really need to see IOP creeping up.
62% FE Fines futures contracts are bobbing around the $112/t US. It would be great to see that climb to around $125-130 as Imo this is where TI1 seem to be looking to sell to get decent profit. If you graph showing rebar inventory dropping is matched with reasonable demand then IOP should kick. Having said that noises from China about building etc aren’t good and may lead to significantly lower demand which leaves us where we are for awhile longer.
Time will tell. Still think we look very cheap but may have to wait before we can reap the gains of the last 18months.
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Interesting graphs. Nice to see shipping costs dropping but...
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