Australian LNG Commodities Iron ore price

Big iron sags, big gas rebounds

Monday, 25 January 2016

Big iron has plenty of reasons to rally – wider commodities rebound, ongoing Chinese restocking, Brazilian port outage – but it ain’t happening. BHP is down -0.6%, RIO is down -2% and FMG is flat:

The idiocy spreads have all closed substantially:

Gosh darn it, there is some pain ahead for RIO! Though at least it’ll still be in business, unlike FMG. Dalian futures are down one point.

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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.