Big iron flame out turns into crash

Thursday, 30 April 2015

The big iron short squeeze and flame out is now entering a crash. BHP is up a little on oil but RIO is down 1.5% and FMG is down 8%. To the indexes:

The idiocy spreads are stable:

In junior land, BCI is down 10% as well:

Some recovery, this. Dalian is actually up 2 points from its overnight decline at 417.

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.