Dream over for big iron as futures crash limit down

David Llewellyn-Smith

Monday, 24 August 2015

Big iron is being destroyed now. RIO is down -5% at $47.07. BHP is down 4.3% at $23.06 and FMG is down 10% at $1.72:

As intuited last week, the idiocy spreads have begun to slam shut:

Juniors are being crushed with AGO, BCI, MGX and ARI all at new lows:

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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.