Daily iron ore price update (bad)

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Here are the iron ore charts for December 9, 2014:

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That is unhappy data. Paper is burning again. Physical clearly cannot escape the pull of $70 to the upside. Benchmark is at $69.40. Moreover, rebar average just violated record lows. The CISA fast data for late November shows steel output has rebounded following APEC but is hardly tearing it up into the seasonal slowing of winter. Platts steel index improved a bit:

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Still stuffed. And so is iron ore. Reuters has texture:

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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.