Daily iron ore price update (“collapse”)

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Here are the iron ore charts for July 1, 2015:

1 2 3 4

Qingdao spot still falling and Tianjin benchmark was down 0.7% to $58.90. Singapore 12 months swaps are fast approaching spot’s record low and are roughly $11 below Bozo Joe’s forecasts for next year. Dalian melted and fell through support to 414 overnight. Mirabile dictu, rebar average did not fall!

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.