Iron ore, coking coal resume crash

Iron ore and coking coal were trying to rally this morning before a stern word from the NDRC declared that prices have further to fall and remain far above production costs. Ain’t that the truth:

Indeed they are. FAR below. Dalian coking coal:

And iron ore:

RIO is in free fall. For some unknown reason, FMG and BHP are again miners of coconuts:

As this all happens while the RBA loses control of YCC leads one to suppress a hysterical giggle.

These markets are completely bonkers.

Houses and Holes
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Comments

  1. The Travelling PhantomMEMBER

    Busy day for you DLS before the long weekend, from one post to another! May your horse win on Tuesday!

  2. I had to go to a bloody NAB today and went in country Qld. Lady in front is asking if her fmg dividend is in her account.
    Minsky affect will be massive.