Big iron hits the skids as Dalian fades

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BHP is down -3.3%, RIO -3.2% and FMG -2.5% although the latter is clearly still getting some support:

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Dalian is off three points at this juncture.

LNG is also giving back with WPL -3%, OSH – 3.6%, STO -3.1%, ORG, -2.4% and LNG -3%:

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Banks are rallying for no apparent reason with CBA up 0.4%, WBC 1.1%, NAB 1%, ANZ 1%, BOQ 1.4%, SUN flat and BEN -0.2%:

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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.