Further to above, steel inventories declined another 8.3% (both social and mills steel inventories) to 10.3mt for week ending 8th Nov on SMM website. All above steel data has been obtained from SMM site.
This more than 15% lower than any other time over the last 6 months excluding the week ending 1 Nov.
Port stocks, steel inventories, IO at mills and shipments in transit are all equally important as determining the health of the IO market. Port stocks are important but needs to be read in conjunction with other indicators which most don’t do.
Iron ore price, page-17436
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$17.97 |
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-0.360(1.96%) |
Mkt cap ! $55.32B | |||
| Open | High | Low | Value | Volume |
| $18.10 | $18.28 | $17.97 | $250.7M | 13.82M |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 104054 | $17.96 |
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| Price($) | Vol. | No. |
|---|---|---|
| $18.07 | 4370 | 1 |
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