Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Fortescue bubble sucks up Dalian hot air

Tuesday 12 July 2016

Wow. Markets are fun. Not smart. But fun. Dalian has lost its senses again up 4% today driving big iron wild with BHP 2.2%, RIO 3% and FMG 3%:

FMG is now unhinged, rocketing wild and free:

Even as the 58% iron ore discount yesterday leaped to 17.7%, sending its spread to equity into orbit:

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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.