Iron ore price, page-2273

Don't listen to offshore brokers like Citibank on the Iron ore price they have no idea, if anything listen to the Australian Banks, ANZ, CBA etc who have offices and IO clients in China and they are looking for a bounce in the IOP as the arbitrage with the surging steel price needs to normalise, and lets not forget AGO is basically factoring in the worst possible scenario right here at 1.4 cents.

Iron ore prices on the Singapore index are now also showing a base is in, up +1.0% again y/day. And we seem to have a vwap of 1.4 cents , so I have a technical break now confirmed. I see a nice trade here, based on AGO being oversold even in the context of not great fundamentals.