How much longer do you think record amounts of ore will be shipped, when the chinese steel mills aren't sell record amounts of steel?
""""Day 2 after the National holiday in China price levels remain unchanged deepening the ambiguity over the direction. September price levels are remained depressed after a brief rally in July. Mills had regained production momentum last month after some correction in August.
In Sep, China’s steel sector Purchasing Managers’ Index (PMI) fell 4.2 points month on month to 49.2, swinging back into contraction after a rise for two months in a row.
The sub-index for production inched up 1.1 points from Aug to 53, showing mills’ enthusiasm about expanding production. New order sub-index plunged 8.7 points to 49.2 and new export order sub-gauge dropped 7.8 points to 44.9, piling up steelmakers’ pressure of promoting orders.""