Dalian is moderately ill today: But it’s Costanza day on the market, “do the opposite”: Perhaps it’s this tripe from CBA: “Rising seaborne and domestic Chinese supply and muted restocking demand help explain the recent slump in iron ore prices,” he says. “The higher prices that prevailed earlier this year likely reflected temporary factors, such
Dalian is soft today: Big Iron is down: FMG has broken to new lows. Here’s the monthly chart: How low does it go? All the way in my view. Although it has deleveraged, it is now confronting a potential structural shift in the steel market in which abundant lower quality ore becomes the fulcrum for
Dalian has held onto mild overnight falls today: Big Iron is up anyway: Big Gas is up a little: Big Gold is powering: Big Debt sold again this morning but not negative GDP gave it enough hope to rebound: Big Spruik plods on: Pretty boring today.
Dalian holding up today: Big Iron is falling anyway: Big Gas too on weak oil: STO is headed for Hades. Big Gold still trending higher: Big Debt is in trouble as CBA looks at a new closing low and all others fall: Big Liar is OK: ASX200 looks very shaky, stalled at the neckline of
Dalian has held some of Friday night’s gains but looks a bit shaky: Big Iron too: Big Gas is stinking it up with STO leading into the pit: Big Gold is shining: Big Debt is getting flogged again: As the yield curve flattens: That relationship is entirely clear: And Big Liar is soldiering on: While
Dalian is mixed today: BHP has announced that Mt Whaleback will not impact output. Big Iron is generally up: Big Gas too though STO is still sinking: Big Gold is bearing up: Big Debt is riding the dead cat: Big Liar is OK too though McGrathmaggeddon has hit another new low: Good to see. Avagoodweekend.
Iron ore has re-opened in Dalian and immediately sunk to new correction lows, coking coal is down even harder: Big iron ore down a little but not enough. RIO’s coconut business is booming: Big Gas is down and STO is paying for its magnificent strategy of blackmailing the country: Big Gold plods on: The Big
Right on cue, the ASX has sunk to new lows below 5700 in its building correction: Big Iron is up: Big Gas down: Big Gold firm: Big Debt is still sinking: And Big Liar: We await China re-opening tomorrow. All that matters now is how fast iron ore sinks through the year. That will pace
No China today so the crapped out ASX is left to deflate all by itself. Big Iron ore is leading it with FMG approaching new post-correction lows: No real news today though the Platts China Steel Sentiment survey has cratered: The S&P Global Platts China Steel Sentiment Index slumped to 33.1 this month from 45.1 in April,
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Terrific discussion on the risks of Ponzicoin from John Rubino here. Meanwhile, volatility rising:
Dalian is having a bad day with iron ore futures crashing nearly 7%: Big Iron isn’t falling as fast as it should: Big Gas is upish: Big Gold is down as the USD firms: Big Debt is still falling: And Big Liar is mixed with MEA threatening new lows: Australia inc under intensifying pressure.
Dalian is soft today: No obvious reason for it beyond good sense and the looming wipe out of Noble Group which may be forced into inventory liquidations!…Big Iron has eased: Big Gas is firm on OPEC: WPL and OSH look bullish on the charts but they’re still way overvalued assuming $65 oil. Big Gold is
There really is no accounting for people. They are crazy. Dalian has lost some of its overnight gains today: But Big Iron hysteria is in full swing as miners move into selling coconuts. BHP is up, RIO is powering into its next boom and FMG surging another 5% even though it is giving away dirt at
Dalian is stable so far today: Big Iron is rallying as CS tells all that iron ore is going back to $70. My answer is who cares? If it does it will only add to port stocks and crash the price even lower shortly afterwards: Big Gas is down despite oil: Big Gold too: Big
Dalian as given up overnight gains: Big Iron is mixed with the really dumb RIO trade holding it up while others whither: Because this time RIO is different (shakes head). Big Gas is down despite oil: Big Gold flying: Big Debt down hard again: Big Liar is split as FXJ soars with the second bid
Dalian is having its own little party today as it pretends that China is stimulating again: That has given the disco biscuit teens at big brokers the excuse they need to buy Big Iron: Looks like RIO is pricing the next China boom. Short, I say! Big Gas is down with oil: Big Gold is
Iron ore and coking coal futures are going OK today: Which has the Big Iron dead cat purring: No doubt the Hot Copper dills will be foaming at the mouth. CS takes the cake: We attempt to trade the easing of Chinese liquidity conditions by adding Fortescue to our Long Portfolio. We are already long
Coking coal and iron ore are still struggling in China: And there are tops everywhere on the ASX. Big Iron is struggling to hand on with WHC breaking support and looking at some kind of waterfall ahead: Big Gas is also selling despite oil. ORG was downgraded to sell today by one broker: Big Gold
Chinese yields are putting on an extraordinary display. Interbank markets remain tight for SHIBOR and repo: But what’s really going nuts is bond yields: You will have noted, I’m sure, that such bond bear markets have preceded all three major Chinese slowdowns in 2009, 2012 and 2015. The further this runs the more likely it is
Dalian is still bid a little today: So is Big Iron ever hopeful: WHC breaking as coking coal spot fell another 3%… Big Gas is sideways: Big Gold bouncing: Big Debt is getting hit again and now doing chart damage: MQG downgraded the sector today. What’s to buy? Highly leveraged utilities exposed to a massive
Dalian is not being nice to iron ore again: Coking coal is a bit better: Big Iron is hanging on again in hope. I suppose it has to wait for the obvious to happen. FMG did hit new correction lows at the open but has since rebounded as Hot Copper dills pile in: Big Gas
Dalian has wiped Friday’s night’s iron ore and coking coal dead cat bounce today: Big Iron is still up on hope: I suggest anyone buying today never take an IQ test. Big Gas is up too: One wonders if the slowing in the US rig count is enough to prevent further falls. Big Gold is
Dalian is open and iron ore has crashed limit down before bouncing a touch: Coking coal is down too: Big Iron is at or below its correction lows: Big Gas is up for no apparent reason: Big Gold is being shellacked: Big Debt is still under pressure: Big Liar is reaching for the stars! Much
Dalian is hosing off iron ore coking coal today: Big Iron is down sharply with RIO and BHP leading, the latter at new correction lows: So much more to come! Big Gas is up despite oil: Big Gold too: The real action today is in banks which are all down approaching -2% as their run
Chinese soft data maybe falling away fast but Dalian is doing the opposite with coking coal and especially iron ore flying: I’ve no idea why Dalian is pulling a Costanza but it probably has something to do with mill closures or the like. Noise basically. Still, Big Iron is enjoying it: Big Gas is also
China is closed today but Big Iron has taken a hint from the weakening China PMIs and fallen decently today: Much more to come. Big Gas is also soft, rightly, as the gas crisis rolls on: Big Gold is mixed: Big Debt is down as its profits fall due: Full valued! The Big Liar is
Iron ore can coking coal futures are holding last night’s gains at the open in Dalian: But Big Iron does not care as BHP opens on a new correction low and RIO, as well as FMG follow: Vale has spooked the market with ordinary earnings and a pledge to return Samarco to production in H2.
Iron ore and coking coal are flat through the day: Big Iron is down a bit: Big Gas is burning with STO -7% and ORG -4%: A little relief today for big gas users: Big Gold is flying except NCM which reported being thumped by, you guessed it, Big Gas: Big Debt is rising…because it’s
Iron ore and coking coal futures have held Friday’s gains so far: Which has BHP and RIO up a little, though FMG and WHC are down: Given RIO has barely corrected since the crash began, let us ask, what is the difference between it and FMG? Given FMG’s great deleveraging, and RIO’s reliance upon iron
