Here are the iron ore charts for July 2nd, 2014:
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Excited iron ore paper markets seem to want to go higher. Rebar futures fell, however. Iron ore physical looks quite sluggish in response, rebar average has at least stopped falling but sure ain’t rising and the BDI capesize component reversed 2.5% yesterday.
In short, nothing has really changed. Traders are trying to pump and dump and it’s not going very well. From Reuters:
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