Iron ore stocks still levitating

Tuesday, 11 March 2014

Major iron ore stocks are still levitating today with FMG down half a percent and RIO up half. This is despite further falls in Chinese paper markets for rebar futures almost down 1% and Dalian futures down almost 2%.

Here’s my updated index chart of the relative performance of the price and shares:

Oodles of room to fall it the steel shakeout persists.

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.