Australian banks Australian LNG Australian Shares Gold Iron ore price

Dalian thumped but nobody cares

David Llewellyn-Smith

Tuesday 21 March 2017

Dalian is down the better part of -5% today:

But nobody cares as Big Iron has barely budged:

Any time iron ore is in the $90s there is only downside. FMG’s potential head and shoulders top has firmed a little.

Big Gas is holding too despite the mushrooming political risk:

Big gold is under-performing:

Big Debt is falling as macroprudential arrives:

Big Spruik doesn’t care even though it will hammer volumes:

Pretty blunt inaction today on the bourse.

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.