Advertisement

Yes, it’s true, spooked by more Chinese property tightening, Dalian has crashed -0.01% at the open. I’m not sure why it has bothered. At $80, the iron ore price is so meaningless re fundamentals that it might as well keep running to $1000! BHP is -0.3%, RIO -0.4% FMG at new highs up 2% and WHC 1.2% even though coking coal has sagged -3.3%:

tvc_d567d0519f2ae6c26381a8dc62f996dd

It will burst when ready.

Big Gas has the OPEC jitters with WPL -0.6%, OSH -1.3%, ORG 0.5% and STO -1%:

tvc_f0da1a2b19b5a3eea2826693e5f68f3d
Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.