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Big iron continues its lunatic run higher today with BHP up 2.3%, RIO 3.9% and FMG 3.9%:

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Dalian is struggling to hold its Friday evening gains owing to the rising port stocks but BHP is even ignoring its Samarco deal accident so there’s no stopping this runaway truck. FMG is screaming higher after its breakout as expected:

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Meanwhile, it’s 58% iron ore discount remains above 20% so the bubble is really inflating now:

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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.