Iron ore price, page-2026

http://in.mobile.reuters.com/article/idINKBN18R0AX

Yep it was a significant reading. Given steel increasing to 54.8 from 49.1, was a significant driver in the overall PMI increase, iron ore futures for whatever reason are frustratingly down. Of course had the reading been the other way around, analysts would say as we suggested already, the steel industry is slowing down reinforcing our negative view on iron ore prices.....

The PMI increased for steel due a strong order book, which would necessitate the need for raw materials in order to fulfil the orders! Inventories are already low and margins are very high for steel companies so how the reading today didn't translate into a surge in the futures, I have no idea! Anyway Looking past all the noise, the fundamentals are strong.