Iron ore miners down despite futures bounce

Wednesday 8 October 2014

It was torrid morning for iron ore stocks with everything hammered at the open but there’s been something of recovery with the majors down 1% and juniors flat and even bouncing. Here is the updated relative performance chart for the majors:

The idiocy spreads continue to close with the moron cross (RIO outperforming BHP) still threatening:

Juniors are still the walking dead but some relief today:

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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.