Big iron and gas on the verge of free fall

David Llewellyn-Smith

Thursday, 12 November 2015

It’s carnage in big iron ore today with BHP in free fall down another -2.5% and targeting the GFC low:

I remains of the view that is going to fall all the way back to 2003 prices. In fact, all of the below are going there.

RIO is also under pressure down -1.2% and is approaching its August low. When that breaks it’ll be on to $20 or so:

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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.