Hy i'm getting a uncorrect json when i'm sending the text below to the API. The JSON is unparsable because of some missing right brackets in the description of the extracted entities. The 6th and 7th lines seems to be the problematic ones because when i remove it from the text, OC send me a parsable JSON back. Unfortunately i can't find why those two lines are problematics.
thanks for any help you can bring to me.
Text :
London, 02 July 2010 - Steel futures were skewed to the downside this week on major exchanges around the world as the start of the holiday season meant less liquidity. Persistent economic woes and lower raw material costs also undermined buying activity, market participants said."The dead summer period has started," one trader said.
"And for the September post-summer 'recovery', although inventories are low, it remains to be seen what will happen to the macro picture.
If there is a double-dip with iron ore below $100, forget 'recoveries' in September and welcome a mini-2008.
"Spot iron ore prices delivered in China from India slipped to around $145 per tonne on a cost, insurance and freight (CFR) basis for 63/63.5 percent Fe content compared with $150 last week.
They are down some 22 percent from year’s highs of $185.
"The lack of steel demand and the weakness in the physical freight market have resulted in significantly lower CFR offers," Deutsche Bank analyst Sebastian Castelli said.
"Expect further softening of the market over the next week."
In the near term, a moderation in China’s crude steel production growth and high steel inventories, as well as lower demand growth from traditional buyers, will continue to pose a threat to iron spot prices, broker Merrill Lynch said.
The spot iron ore price will average $133 per tonne CFR China this year before falling to $107 per tonne in 2011, while the market will remain in tight supply over the next two years, it added.
Steelmakers might also take more capacity offline over the next few months - when maintenance programmes are usually scheduled in any case - in a bid to support prices.
"Further output reductions could occur in order to protect prices as the year progresses," UK consultancy MEPS noted.
China will cancel the nine-percent export tax refund on many steel products from July 15, it said last week, part of plans to tackle overcapacity in energy-intensive industries by forcing companies to focus on domestic consumption rather than overseas sales.
Chinese steel mills are now expected to undergo a destocking process.
"The Chinese steel market has started destocking [which] is expected to last for two months as holders see prices falling," broker Fairfax said.
"[This] will lead to a correction in oversupply in the market that should allow inventories to return to levels more appropriate for a lower steel output.
"This destocking should "coincide and be supported by seasonal maintenance programmes at steel mills", it added.LONG STEEL DOWN Billet, mainly used in the construction sector, fell to a two-week low on the London Metal Exchange after hitting its highest in a month in the previous week.
Mediterranean billet was last quoted at $410/430 per tonne, down 5.7 percent from $435/440 per tonne last Friday - it traded at its lowest since June 17 at $426.50 on Thursday.
A 35-percent fall in the previous two months was temporarily suspended last week on rising demand in anticipation of the merger of the exchange’s two existing steel billet contracts on July 29.
But easing raw material costs and uncertainty over the global financial situation rekindled the downward correction. Turnover reached 2,313 lots up to Thursday after falling to 1,883 lots during the same four days of last week, while market open interest continued to drop, reaching 2,754 lots from 2,790 lots last week - one lot measures 65 tonnes.
This suggests some long liquidation took place this week.Meanwhile, warehouse stocks saw steady flows again, with metal delivered into Tekirdag as well as Rotterdam.
Total stocks rebounded to 28,795 tonnes from 28,665 tonnes last week.
Physical prices were steady - Black Sea billet was quoted at $430 per tonne on a free-on-board (FOB) basis, down slightly from $440-450 last week, while a seasonal slowdown in demand leaves traders mostly inactive.
"There is not much physical sales going on, no-one is booking," the trader said.Prices fell again on the Shanghai Futures Exchange (SHFE), with the rebar contract for October delivery - the most actively traded month - at 3,975 yuan ($588) per tonne on Friday, down from 4,084 yuan last week, while the October wire rod contract dropped to 4,020 yuan from 4,089 yuan previously.
On India's domestic National Commodity and Derivatives Exchange (NCDEX), billet for July delivery steadied at Rs24,010 per tonne ($516) from last week's Rs23,830 per tonne.