Big iron hammered on inquiry?

Monday, 18 May 2015

BHP is down 7% today as it spins off South 32; to my mind a bad move given it will expose what’s left even more to iron ore coal. RIO is down sharply too for no apparent reason. Selling dodgy aluminium assets isn’t a cause and iron ore futures are up. Perhaps the sub-altern turn in iron ore politics is playing a role. FMG is flat.

To the indexes:

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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.