Calm overtakes iron ore market

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BHP is flying today on the oil price bounce. However, RIO is down a little and FMG’s run has come to end down 2%. Here is the index chart:

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All idiocy spreads are now widening once more:

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Juniors are mostly flat but ARI is getting a hard time after CIMB downgraded its price target from 21 cents to 20 cents, absolute genius at work:

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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.