Iron ore miners hit as bad data rains

Monday 3 November 2014

Sanity has soaked into iron ore equities today as a deluge of weakening Chinese PMIs has permeated the stupidity of late last week. The majors are down a slice and FMG at minus 4%. Here are the relative performance averages:

The FMG idiocy spread has some more closing to do but increasingly the real cretinism is focused on the last two miners standing:

The juniors are again face-planting into the sod with BCI punching through to feast upon loam, down 6% 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.