Big iron hit as pressures mount

Monday, 13 April 2015

Big iron ore share prices are copping it today with the Citi downgrades and weak Chinese data (which is largely seasonal). BHP is down 1.5% and entrenched below $30 now, RIO is down 1.5% as well and sitting on recent support at $56. FMG is flat at $1.80 where someone lacking brain cells has been a heavy buyer for a few weeks. To the indexes:

The idiocy spreads are at new wides again today:

Still all dead among the juniors:

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.