Iron ore miners fade with futures

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The iron ore miners are on the nose today with BHP holding ground but RIO down the better part of 1% and below $60 again. FMG is getting a caning for some reason (the AFR weekend ambush?) down almost 3% and below $3.40. Here are the relative performance charts:

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The idiot spreads are again turning towards closures:

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The juniors are still stuck with one foot in the grave and the other on a banana skin:

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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.