Big iron stalls as futures fade

Tuesday 12 May 2015

Big iron is struggling to make headway again today with BHP up 1.7%, RIO flat and FMG down 2%. All pretty much dancing on the spot of the past few days. To the indexes:

The idiocy spreads for the big two are closing largely because iron ore is rising and for FMG is still widening:

Juniors are unchanged but BCI still looks a standout for retracement:

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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.