Iron ore price correction in full swing | MINING.com

Frik Els:

Iron ore is now down 18.3% from a high above $63 struck last week following an insane one-day rally.

…..SGX was the first to launch iron ore derivatives in April 2009 and so-called open interest – a measure of market participation – has surged to an all-time high in recent days according to data from the exchange.

The iron ore market has also gone into backwardation, an unusual situation where spot price are higher than futures prices…..

Source: Iron ore price correction in full swing | MINING.com

One thought on “Iron ore price correction in full swing | MINING.com

  1. Mark Everett says:

    Iron ore in the low $20s is very possible going on what you are thinking about the yuan and the government attention to the problems in there economy . Bridges to nowhere and cities that no one will ever live in , sounds a lot like Japan in the late 1980s .
    yours sincerely Mark

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