Not really. Rising port inventories are often due to mills and traders wanting to stock up when they feel prices are low. It's insurance. It doesn't preclude or prevent a price rise. That can be triggered by a number of factors, including things like a storm, major derailment, dam failure, new stimulous package, etc, etc.
Iron ore price, page-53677
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$20.47 |
Change
0.450(2.25%) |
Mkt cap ! $63.02B | |||
| Open | High | Low | Value | Volume |
| $19.90 | $20.64 | $19.90 | $227.3M | 11.13M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2983 | $20.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.50 | 2160 | 2 |
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