BHP, RIO, FMG sell despite futures

Wednesday, 24 June 2015

It’s not much fun for big iron today with BHP just managing to stay in the black, RIO selling and FMG up only 1.3% despite the big bounce in Dalian futures overnight. To the indexes:

The idiocy spreads for RIO and BHP are expanding but the ‘sanity spread’ for FMG is close to a new wide:

Juniors are once again digging their own graves with ARI at all time low of .14 cents:

Dalian futures are unchanged from this morning up 7 points from yesterday. Spot should rally in the morning.

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.