Not surprising the futures have become 'whippy', given that the decline in price for iron ore CFR China has stalled since Xmas ...
Blue = domestic ore, Y/t (@ 62%Fe)
Red = imported ore, Y/t (@62% Fe)
Here is the Y/t & $/t for imported ...
Showing significant resistance at $70/t, and I am sure the Chinese domestic miners are thankful of the relief in having to chase down the falling imported ore price.
