Big Dirt crashes as Dalian falls off cliff

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And down we go. Dalian is still limit down for both iron ore:

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And coking coal:

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Big Iron is trailing with BHP -3.2%, RIO -3.6%, FMG -4.2% and WHC -3.7%:

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The FMG chart is enough to terrify the pants off a chartist with a spectacular double top threatening:

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It is a bubble and may deflate swiftly.

Big Gas is also down with WPL -2.2%, OSH -1.8%, ORG -1% and STO -1.2%:

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I can’t believe Saudi could be so stupid as to set up OPEC to fail…

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Big Gold is mixed with NVM 0.7%, RRL flat, IGO -4.6%, SBM 2% and EVN 0.7%:

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Still too early for me.

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Big Debt is creeping up again just because:

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And Big Spruik is weak again with the poisonous FXJ flat, MEA -2.4%, REA -0.4% and MGR flat:

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There is justice in the world.

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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.