Australian LNG Australian Shares Commodities Iron ore price

Big iron stupid takes blow to the head

Wednesday, 1 June 2016

The big iron stupid I’ve been enjoying so much of late has taken a blow to the head today with BHP down -3.2%, RIO -1.6% and FMG -1.2%:

Dalian is up a couple of points from overnight selling despite very ordinary China PMIs and a plunging yuan so the stupid ain’t dead yet.

Big gas is down too with WPL -1.5%, OSH -2.2%, ORG -1.7%, STO -2.7%:

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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.