Big iron and gas still taking heat

Big iron is on the nose again today with BHP down sharply at -2.3%, RIO as well at -1% and the ever hopeful FMG is up 2.6%:

Dalian is open and is immediately under pressure down one point for January but more than 1% for May at 302 or roughly $38.

Big gas is more mixed with WPL flat, OSH flying 1.4% (and far out of reach of takeover), ORG up 1% but STO down -3% as media flops around trying to convince retail shareholders to lose more money on it. Finally, LNG has cratered -12% on no news that I can find, though appropriately enough:

Brent is lower after Venezuala said oil may fall to $20.

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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.