Australian banks Australian LNG Australian Shares Commodities Iron ore price

Dalian hosed but big iron gallops on

Tuesday, 7 June 2016

Because it sells…semiconductors? Dalian has lost all of its overnight gains and is unchanged from yesterday’s close but the miners march on regardless with BHP up 3.5%, RIO 2% and FMG 3.4%:

Meanwhile, in China it’s love that’s driving the rally, from Reuters:

Slowing growth is exposing cracks in China’s financial system, where defaults are spreading.

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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.