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Big iron ore is being bashed again today with BHP at a new post-GFC low down -1.4%, RIO is down -1% and FMG -4% and still holding hope rather stupidly:
Idiocy spreads are tightening for FMG but blowing out for the majors:
Dalian is flat at 299 and looking vulnerable.
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For big gas, the picture is again mixed with WPL down -0.5%, OSH flat, ORG and STO are up 1% and LNG 4.3% after yesterday’s drubbing:
Brent is holding it gains.
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.