Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Dirt flames out

Wednesday, 12 October 2016

Big Iron has hit the proverbial today with BHP -2.3%, RIO -1.7% and FMG -3.5%:

Dalian is only off one point at the open but wider market action is not encouraging for dirt with a rampaging US dollar (which is off a bit on a GBP rebound) and tumbling CNY.

Big Gas is also coming off with WPL -1.2%, OSH -2.6%, ORG -2.8% and STO -2.8%:

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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.