Iron ore dumps as China breaks BHP

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The ferrous jaws have eased, but nowhere near enough.

The news is amusing for bears.

BHP Group’s iron ore discounts following Chinese pressure are “optical, temporary and economically bounded” and don’t reflect a decline in the mining giant’s pricing power, according to RBC Capital Markets.

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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.