Full year results, page-28

Thoughts?

"Some suggest that speculative forces in Chinese futures — responsible for periods of acute price gains in spot and physical markets during 2016 — have taken hold once again, seeing fundamentals pushed to the side for the moment.
“There has been an improvement in sentiment since last week and I think there are more speculative” forces at play, Wang Di, an analyst at CRU consultancy in Beijing, told Reuters.
Another Singapore-based trader described the moves as “crazy”, suggesting that there was no reason to explain the move in futures given “poor” iron ore fundamentals that should be capping gains."