Australian LNG Commodities Iron ore price

Big iron and gas dead cat meows

Thursday 28 January 2016

Big iron and gas are up with a modest dead cat bounce. BHP is up 1.4%, RIO is up 2.4% and FMG 6% as markets cheer its meaningless production report:

Dalian is marching up another point this morning as well as cyclone approaches Port Hedland though that too is meaningless given the restock will end soon enough. Idiocy spreads are widening once more and gosh RIO is stuffed!

And at least one of my predictions for 2016 has already come true with Cliffs CEO Lourenco Goncalves pouring scorn on the majors once more:

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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.