Have iron ore miners flamed-out already?

Thursday, 5 February 2015

It’s consolidation day for the iron ore miners. BHP has reversed down 2.5% on oil’s u-turn, RIO is off 1.5% following overseas markets and ignoring the China easing and FMG is down 3.5%. The indexes:

The idiocy spreads continue to widen on the past week’s action and even FMG is lowering its sanity once more:

The junior’s brief kiss of life turned out to be nothing more than a mud smooch piled on top of their buried bodies as prices retrace today:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

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.