Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Delusional dirt dominates ASX

Tuesday, 19 July 2016

Dirt delusions continue today with miners outperforming underlying commodities as BHP falls -o.7% but RIO is up 0.4% and FMG 0.5% despite Dalian suggesting another large fall for iron ore today:

The Fortescue bubble is bigger today as the discount for 58% iron ore rose to -14.5% but shares are holding up:

And the idiocy spread is once more at all-time crazy:

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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.