Australian LNG Commodities Iron ore price

Big iron and gas ride stone dead cat

Thursday, 10 December 2015

Big iron drills further into stock market fantasy-land today with BHP up 2.6%, RIO up 3.3% and the doomed FMG up 2.2% even though it is now losing $1.70 on every tonne that it ships, or $280 million per annum:

On death row, there is even a little life, I don’t know why:

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Dalian has opened down one point.

Big gas is also better than it should be with everything flat except OSH which is down-1%:

What good is a market that only discounts positive outcomes, I ask ya?

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.