Iron ore equities still dreamin’

Wednesday, 7 May 2014

It seems a bit harsh to pick on iron ore equities today given the overall market is taking a pasting but here are the updates anyway. For FMG:

And Rio:

Both are down today and FMG has passed the 20% bear market correction threshold that the MSM adores, but the gap between the iron ore and equity price performance remains filled with nothing but false hope I’m afraid.

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.