The bounce back in the Dalian in overnight trade may have been attributed to the very promising Dec 2020 steel production numbers released by world steel.org overnight.
it’s also the first month since pre covid that steel production ex China was up YOY. Europe up 10% YOY, India continuing their strong momentum up 4% also. Japan still 3% down but they were 16% down for the full year.
Not sure if the market has realised this release from world steel.org as yet
https://www.worldsteel.org/en/dam/j...ember%202020%20crude%20steel%20production.pdf
Iron ore price, page-27473
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