Here are the iron ore charts for January 28, 2015:
Some better news in paper markets with Dalian six month futures rebounding yesterday afternoon, though in chart terms it has now established a near perfect bearish descending triangle pattern that I still expect will break. The 12 month swap continues to explore new lows. As does spot, with benchmark also down .10 to $62.70. Rebar leads on into the pit and so long as it does, iron will be dragged along.
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The news of the day comes from Anglo American via the WSJ: