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Big iron can’t find a bid today despite the incipient price rebound with BHP up 0.2%. RIO down the same and FMG up just 0.9%. Dalian has opened a few points down from its Friday night jump:
Meanwhile, big gas is better despite the fact that Brent is in free fall and was immediately hit on its open in Asia. WPL is up 0.7%, OSH flat, ORG is up 2.2%, STO is up 1.5% and LNG dead cat bouncing up 6%:
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A punt on a rebound tonight, I guess.
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.