Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

If it digs, sell it. If it banks, buy it!

Tuesday, 21 June 2016

Big iron ore is getting hit today for no obvious reason. Perhaps it’s just unwinding some of the stupidity of its recent rally as BHP falls -0.8%, RIO -1.2% and FMG -3.3%:

Dalian is up 1% but has lost traction with the spot price in the recent week.

Big gas is also selling despite the oil rally, adding to Brexit profit taking with WPL -2.6%, OSH -1.3%, ORG -1.5% and STO -0.3%:

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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.