Australian banksAustralian LNGAustralian SharesCommoditiesGoldIron ore price

Big Iron falls with Dalian

David Llewellyn-Smith
Tuesday, 27 September 2016
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Dalian is down 2% today taking Big Iron with it. BHP is -1.3%, RIO -1.2% and FMG -1.8%:

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This despite upgrades from MS:

Bulking up in 2016-17: The Commodity price revisions – “Global Metals Playbook: 4Q 2016” – are most pronounced in the bulk commodities. These are the materials thathave benefited most from the stimulus and policies applied in China. Our bulk commodity forecasts are up 10-30% in 2016-17,and yet remain 10-90% below spot, so there is still upside risk. Base precious metal price changes have tended to be less than 5%. The AUD forecast moved up 5%, which worked against domestic operations.

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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.