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
While global markets party on the rise of Emmanuel Macron in France, Dalian has opened and immediately shed the good spirits as iron ore and coking coal futures tank: Big Iron is dutifully down: Big Oil is up despite the oil pounding, fishing for a low: Big Gold is mixed: Big Debt is enjoying the
He’s back and he’s buying…you guessed it…iron ore. In Dalian today: Big Iron is following with BHP 1.6%, RIO 2% and FMG 4.8%: Pretty typical bear market rally stuff. Big Gas is down too: And Big Gold: Big Debt is better: Big Spruik is flat: Avagoodweekend.
After a few hopeful signs and idiotic fundies, iron ore has suddenly turned down in Dalian this afternoon: Coking coal too: Aforementioned fundie dunces are still bottom fishing though with Big Iron roughly flat: But if you want to a new level in iron ore dumb then cop this from JPM: Iron ore’s 32 per
Dalian iron ore and coking coal futures have recovered a little today: As has Big Iron after being flogged yesterday afternoon: But the chart damage is done. Indeed, BHP looks like it’s about to join RIO and FMG in the broken head and shoulders top club: We’re clearly already in oversold territory but I do
Iron ore and coking coal have held onto last night’s losses today in Dalian: And Big Iron is taking the pain as BHP falls -1.6%, RIO -1.4%, FMG -5% and WHC -1.2%: Today’s standout chart is RIO’s breaking head and shoulders top: Perhaps not entirely convincing yet but not a good sign… Big Gas is
Dalian iron ore futures have caught a little bid today though they are still down Big Iron has cratered with BHP and RIO -4% and FMG -7%: FMG’s head and shoulders top is confirmed as the neckline is vapourised: That chart says big downside ahead. Big Gas is pulling back after its stellar run: Big
Dalian iron ore has held its overnight losses so far today: As has coking coal: Big Iron is mixed with BHP and RIO acting like they don’t care but FMG is off another -2%: Indeed, FMG is fast closing in the neckline of its lovely head and shoulders top formation in the mid-$5.70s: If that
Iron ore futures are flat in Dalian so far today: Coking coal keeps falling: Big Iron is mixed as BHP pulls back, RIO jumps for no obvious reason and FMG, as well as WHC fall: FMG is sitting right on $6 as it approaches completion of its very attractive head and shoulders topping pattern with a
Boy, is the ASX in for a nasty surprise. It’s sailing along on the assumption of reflation as the underpinnings of same get knocked out. Dalian iron ore is open and down another -2%+, as is coking coal: Big Iron doesn’t care as everyone but FMG is up: If we fall as quickly as I
Dalian is holding onto its overnight losses through the day with iron ore down -7% and coking coal -4.2%: This seems to me to be a very bearish signal. If Cyclone Debbie can’t elevate futures then the jig is up for bulks. Big Iron is doing better than it should with BHP up slightly with
The Caixin China services PMI is out today and what is usually a pretty marginal indicator seems suddenly to have crystallised lurking China slowdown fears: The Caixin China Composite PMI™ data (which covers both manufacturing and services) pointed to a weaker increase in total Chinese output at the end of the first quarter. At 52.1 in
Dalian is open and soaring. Coking coal is up 8% and iron ore 1.0%: Big Iron is up strongly too with the majors up 2.5%, FMG 3.5% and WHC adding to yesterday’s big gains: For mine, this rally is a great short entry point. The Debbie delays will be short and only serve to boost alternative
Dalian iron ore is down today: And coking coal down: Big Iron is stalled other than WHC: This despite the booming China PMIs and Cyclone Debbie. When a bull market stops reacting to good news then, well, you know the rest… Big Gas is down despite oil: Big Gold is down: Big Debt is up a
Dalian is struggling again. Pointedly so when one considers the risk of coking coal disruptions: Big Iron is hanging on: Big Gas is up with oil, stupidly: Big Gold is down with gold sensibly: Big Debt is flying: The rate hikes appear to have triggered a dash for trash, from Brain Wilson at CLSA: While
Dalian is open and is up with coking coal as Debbie does Dalian, both erasing half of last night’s losses. Big Iron is enjoying the dead cat, all stocks up 1% plus. WHC is up more on a reasonable thermal coal contract settlement: All eyes on the Bowen Basin today… Big Gas is up on
The pressure DCE is not abating with it down -1.5% at the open: The reason why be still more PBOC mortgage tightening, via Reuters: The People’s Bank of China (PBOC) will strictly check the source of down payments by individuals purchasing property in Beijing, the Beijing operations office of the Chinese central bank said in a
