OMG, I better set the thread back to IO Price related FACTS:
Tangshan Billet up another 30 yuan to 3770 yuan, total up 50 yuan today!
Money talks and you need to follow the money, these are money inflow for each futures today:
- SR (Steel Rebar): 1.39B yuan. It's a record for last 4.5 years!
- HR (Hot Roll): 0.46B yuan, a distant 2nd.
- IO (Iron Ore): 0.056611B yuan, much less than yesterday.
Luckily SR will normally help IO, so we should see strong IO price for a while if Steel prices continue to rise.
Should be a busy Steel Market Weekend coming up!
DYOR.
Frank.
Iron ore price, page-2843
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