Miners struggle to gain as iron ore futures roll

Wednesday, 17 September 2014

It’s three times in a row for miners today, again out of the blocks early with strong price surges and selling hard (so far) during the day. The cause today is obvious enough with Chinese markets rolling over again. Rebar futures are down 6 points and Dalian 2 points. Here are the relative performance charts for juniors:

And majors:

And still widening idiocy spread:

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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.