And the iron ore miner profits carnage is….

Tuesday, 1 December 2015

From UBS:

Diversifieds: All else equal, our BHP & RIO earnings estimates for CY 16 would be 80% and 51% lower, respectively, under a spot scenario. At spot, S32’s CY 16E earnings would decline to a loss of US$185m. Iron ore: The spot iron ore price is 12% below our CY 16 forecast and combined with FX implies a 69% downgrade to FMG’s FY 16E earnings.

For 2016:

And 2017:

Better get in fast, eh, Sykesy?

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.