Big iron and gas dance like headless chooks
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Big iron is all over the place today with BHP and RIO both down under -1% but FMG is marching higher by 5.3%:
The Dalian January contract is flat but looks vulnerable as the curve is steepening further out.
Big gas is also a headless chook with WPL up 1% and its big target OSH down -0.4% while STO soars 4.5% but ORG falls -0.5%:
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Brent oil is down a little. No much to add to that.
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.