Big iron melt resumes

David Llewellyn-Smith

Thursday, 4 June 2015

BHP is down 1%, RIO half that and FMG is minus -3%. There’s no obvious reason why. To the indexes:

Idiocy spreads are creeping closed (except for BHP but that’s largely South 32):

Juniors are eroding with BCI down again and now off 27% since it reached “sitting duck” status:

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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.