Daily iron ore price update (all over bar the shouting)

The ferrous complex was universally weak on June 7, 2021. Spot fell. Paper tumbled. Steel was whacked. That this all happened on the day that Brazil plugged another dodgy dam is not a sign of market strength.

The proximate cause was mediocre Chinese trade data. Iron ore imports for May were lousy at 89.79mt and the rolling annual has peaked:

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