Big iron ore miners sag again

Thursday, 11 December 2014

The major miners are taking it in the neck again today with RIO deep in the $55s and at 2014 lows, BHP was deep in the 28s at new lows as well until the bottom feeders pounced, FMG is repeating yesterday’s tumble and bounce routine as well but is still below $2.50. Here are the indexes:

The idiocy spreads are unchanged and still have miles to close:

The juniors are much the same as yesterday, too, though ARI is exploring new depths at 18 cents:

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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.