So what do you think speculators thrive on? Sentiment. What do you think influences sentiment? Supply/demand metrics. Maybe have a look at the iron ore price chart, then compare it to overall steel and construction index linked to Chinese growth, then checkout the port supplies and finally put all of these together. You will get your answer. Speculators can't just get a sustained rally or fall based on rumor. ST this can be the case but eventually it needs to match sentiment.
Iron Ore Price, page-398
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