Klob, it means Rio, BHP, Vale and FMG will soon (if not already) pull cargo from the market.
The Chinese are deliberately de-stocking (Nov export from Port Hedland fell. Oct & Nov Brazilian export fell significantly) looks like co-inciding with a pull back of supply by the Big3.
Think China wants to IO price to stay low (as IO inventory depletes) until CNY for some purpose![]()
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