Hi sharman, What makes me skeptical of your reply is that IO...

Hi sharman,

What makes me skeptical of your reply is that IO inventory levels continue to drop at ports, thus there has been re-stocking. It will be interesting to see the IO inventory levels at weeks end. It should give a better gauge as to where we are heading. We should not expect the price to move in a perfectly straight line, we will have pullbacks on the way up.

Also if you are betting on the IO price to decline why would you re-stock, thus by weeks end the levels should remain the same or even increase IMO.

GLTAH