Big iron ore is still holding up better than it should but it is sinking to new lows with BHP under $18 down -1.3%, RIO smacked 2.7% to a new post-GFC low and FMG again holding up down just -1.5% even though come Monday it will be losing money on every tonne that it ships:
Glancing at the junior death row, we find AGO in the chair with ARI pushing hard to share it:
If I could I’d add Cliffs Australian operations. The next outburst from CEO Goncalves as it closes down is going to be a cracker. Dalian is up 1.5 points from its overnight low at the open but still down sharply on yesterday.
Big gas, meanwhile, is also falling despite the rise in oil with WPL and OSH whacked -2% on the CS downgrade and STO up 3% in a Pavlovian response to the same’s upgrade. ORG is down -0.6%:
All still too pricey!
