Iron Ore rally

Posted: August 8, 2017 in Uncategorized

Iron ore is smashing expectations. Are we in a new Bull Market?

Unfortunately not.

There are two factors now driving the prices

  • There is quite a lot of rebar future trading activity – mainly speculative.
  • A lot of Chinese mills are filling their stock ahead of the winter capacity – curbs sanctioned by the government

In technical terms the range should be collared and capped between $55-$75


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s