I think these are the 2 scenarios. Both take the IO price to around $70 very swiftly starting with a plunge of the Dalian through 600 yuan then 500 yuan over a week.
The process either starts today or early next week say Tuesday. Either way IO price will be around $70 by next Tuesday.
IO price will absolutely test the $40s come late November or early December.
When the big ships drop achor all queued up with nowhere to go, then IO price will free fall to the $40s.
Iron ore price, page-38050
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$19.70 |
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