Spot iron ore posted its biggest one day record gain of USD 8 per tonne on Monday

The surge in Chinese domestic steel prices brought out the latent interest in buying out in open as most buyers have started believing that price rally is there to stay or some time and it is prudent to buy now rather than tomorrow at higher prices

But the direction is still not clear as market is caught up in a web of divergent dynamics

Many market players remain wary that the stimulus driven steel demand will get buried under the huge surplus capacity and production.

Source - Strategic Research Institute

(www.steelguru.com)