Iron ore charts for June 17, 2016:
Tianjin benchmark firmed 1% to $50.70. Paper jumped. Rebar average fell and is telegraphing iron ore weakness. Port stocks up 750k tonnes to a new restock high. While iron ore is above $50 accumulation will continue and the higher it gets the lower we’ll go later.
The bullet proof Fortescue has some more problems at The Australian: