Daily iron ore price update (parade)

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Here are the iron ore price charts for August 26, 2015:

Capture Capture1 2 45

Tianjin benchmark fell 30 cents to $53.10. Paper is also weakening with Singapore only 50 cents above a new low. Rebar average is retracing fast and I’ve added currency adjustment to show you just how fast. We are warming up for downside. Texture from WSJ:

The official Xinhua News Agency said Chinese authorities aim to reduce air pollution in and around Beijing by as much as 40% for the parade. It said the temporary controls, to last from Aug. 28 to Sept. 4, would result in more than 10,000 factories reducing or stopping production and work on nearly 9,000 construction sites stalling.

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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.