Big iron melts as futures stall

Friday, 7 August 2015

Big iron is getting pounded today as BHP and FMG fall 2%. RIO is bucking the trend up 0.5% on its results. The mix may be the result of RIO’s plans to open the Silvergrass mine next year though it does not add a great deal in new volumes:

Idiocy spreads are flat again:

AGO is still two cents below its issue price:

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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.