Daily iron or price update (bear market fizzer!)

Here are the iron ore charts for November 24, 2014:

This is a real fizzer of a bear market rally. Dalian six month futures barely budged, Singapore 12 month futures have crashed to new lows and physical hasn’t moved at all (benchmark rose 20 cents to $70). Mining equities also rolled over in London, with both RIO and BHP down more than 2%. Rebar average only managed to slow its fall. Also hitting sentiment will be another rise in Chinese iron ore port stocks, by 550k tonnes on the week. There’s still oodles of red dirt piled up over there.