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Dalian flies again

Monday 13 February 2017

Dalian is open and popping again, though 700 this time. Contrary to popular belief, it is not currently pricing $100 iron ore. 20% of the price is fees and taxes so it’s pricing roughly $82 in six months, which is quite insane enough! Big Iron is off again too with BHP is 2%, RIO 3.5%, FMG 4.5% (though not at new highs) and WHC 2.4%:

Big Gas is firming:

Big Gold too on a good NCM result:

Banks too:

Big Spruik is mixed:

If it digs, buy it!

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.