Big iron, gas roar as even McGrath finds a bid
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The big iron party rolls on with BHP up 4.2%, RIO 2.7% and FMG 2.3%:
All are still short of previous bear market rally highs though in up trends. Dalian is off five points from its evening rip. As well, here are a couple of comments from this morning’s iron ore post to help clarify the Vale situation:
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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.