Chinese Golden Week slides into the brown
Iron ore is crashing. Except it isn’t. The freight premium is coming out. C5 has dropped $6 from the peak in the last few weeks. Adjusted for normal freight costs, CFR is roughly stable around $87. Forward indicators remain poor. Steel demand is pancaked. Steel production improved to catastrophic. Iron ore is growing at ports The post Chinese Golden Week slides into the brown appeared first on…
We haven't written up this one. MacroBusiness has the full story — the link below goes straight to it.
