iron ore back above $110, page-2

Good news just keeps coming. IO now back above US$110/ton.

Now it seems that the Chinese are misplacing or losing steel stocks.

Steel inventories – not what they seem

•Stocks of steel held as collateral by Chinese companies have been discovered to be missing.
•Chinese companies which have pledged stocks of steel to lenders have found that the steel is not there.


Old Mother Hubbard

Went to the cupboard

To get her poor doggie a bone,

When she got there

The cupboard was bare

So the poor little doggie had none.