Big iron struggles to rally

Wednesday, 15 April 2015

Despite tearaway rallies in iron ore, oil and equity in London, big iron ore is not responding well today in Australia. BHP is up a lousy 1.5% and RIO and FMG up 1.9%. All are selling though the day after the Chinese growth numbers. To the indexes:

Idiocy spreads have flattened out:

Juniors dead:

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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.