Daily iron ore price update (head fake) (members)

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Here are the iron ore charts for July 22, 2014:

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A bad day at the office. Paper markets delivered a head fake as spot sold. The slavish devotion of iron ore equities to daily Dalian futures pricing is not foolproof. Rebar futures were soft and BDI cape flat. Worryingly, rebar average is falling steadily once more.

The restock is done, whatever Dalian did for one day. 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.