Iron ore miners fade on Chinese shocker

Monday 9 February 2015

The big iron ore miners are rolling today with BHP and RIO down 1% apiece and FMG down 2.5% on the Chinese trade shocker. To the indexes:

The idiocy spreads are once again uniformly bonkers as FMG’s brief flirtation with sanity slackens its jaw, lolls its tongue and drools just a little:

RIO has entered some fourth dimension of thick-headedness where low IQ is rewarded with fabulas welf. I have no idea how stupid it will get before punching back into out universe, but I still very much believe that that spread will close.

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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.