No idea about ports but there are steel mills in every province... hard to follow the logistics.
First update of 2019 and another $1/Lb wiped. Now back to the level before the extraordinary November run:
I'm not scared to say this is where I called the flattening out. @AAbatteryboy had the same thought. I stand by it.
Sure, spot price could overrun support but it'll find a level here somewhere. Whether or not it hits the exact spot isn't the point (I'll take it if I'm right) but there is buying pressure here. Before the rebar change was enforced from previous demand. Traders know this and with seasonal shut-downs on both sides of the market put to one side I do expect these levels to hold.
It's likely to be post Chinese NY before any real upwards price pressure but I'm just looking for the next sideways move. That's what excites me, it's the natural entry point for investment. With our expected January / February resource upgrade, March / April bulk sample deliveries and May / June DFS schedule it makes for an interesting 6 months.
Serious money will be flowing into the sector as soon as this price reversion ends and per the well researched opinion I've expressed before, there is only one explorer to invest in. What serious money? Wall Street is next to arrive: