BHP, RIO, FMG hammered as futures fall

Friday, 26 June 2015

I have already noted the pressure that big miners are under today. Here are regular charts:

BHP and RIO idiocy spreads are still expanding but they’re about to reverse sharply. The FMG sanity spread has broken out and is running:

Junior doom continues with ARI at a new all time low of 12 cents today:

Dalian is unchanged from this morning at 435, down more than 1% from yesterday.

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.