Best news is the IO stocks at Chinese ports are dropping. The Chinese are hoping that if they slow their buying then the IO price will drop, but with stocks dropping they will have no alternative but to BUY.
Iron ore stockpiles at China's major ports (Jan 28- Feb 1) Till the close of this week (Feb 1), the imported iron ore stockpiles at China's major ports posted at 67.77 mln tonnes, down 2.33 mln tonnes from previous week; out of which Australian ore stockpiles reached 30.86 mln tonnes."
It will take some time before analysts realise the significance of this, but these clowns will eventualy wake up.
GBG Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
