Daily iron ore price update (better) (locked)

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Here are the iron ore price charts for June 30th, 2014:

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Paper markets were weak across the board including rebar futures. In physical, spot weakened too but wider action is more encouraging. Texture from Reuters:

“The market remains oversupplied and I don’t see any signs of turnaround. I think the trend will be for prices to consolidate at low levels,” said Helen Lau, senior mining analyst at UOB-Kay Hian Securities in Hong Kong.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.