Iron ore miners rally on China data

Tuesday, 21 October 2014

As I’ve already described, the China data release was very clearly commodities negative but only in the longer term and miners are still rallying on market relief. BHP and RIO are up firmly and FMG is flying on the MS upgrade:

The idiocy spreads are widening again as markets rebound from the recent swoon:

Juniors, however, are still pushing up daisies:

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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.