Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Iron soars, Big Spruik bleeds

Monday 31 October 2016

Big Iron is off again today as Dalian opens up a few points. BHP is 0.5%, RIO 1.7% as running in free air, FMG is 0.8% and at new highs:

FMG is fast approaching its 2013/14 China stimulus high. It doesn’t take Einstein to know what’s going to happen to it when this stimulus also runs out.

Big Gas is sagging with WPL -0.8%, OSH -2.1%, ORG -1.1% and STO -1.4%:

Big Gold up firmly with NCM 4.5%, RRL -0.6%, IGO 0.5%, SBM 1% and EVN 3%:

Big Debt is flat:

Big Spruik keeps sinking with shrinkflation. The corrupt FXJ is flat, MEA is at new lows -1.3%, MGR -0.3% and REA -0.7%:

With rate cuts shelved for a while, there is nothing on the horizon to turn it around.

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.