...China stockpiling (in preparation for ??), when stockpiling ends, iron ore price could face a large fall.
Bloomberg makes an important point for iron ore markets. Brazilian iron ore supply in April was a record 30mt while shipments from Port Hedland neared 50mt, also an all-time high for the month. That is adding to a surge in iron ore port inventory in China at a time when it would ‘normally’ be falling sharply.
