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Iron Ore, The Iron Ore Industry
early birds
post Posted: Sep 21 2021, 09:20 AM
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The price of iron ore fell below $US100 for the first time in 14 months as worries about the anticipated default of Chinese developer Evergrande added downward pressure on the commodity.

Iron ore fell 8.8 per cent to $US92.98 per tonne overnight, according to Fast Markets MB, the lowest level of the year and a 61 per cent decline from the peak in May.

“The market is likely to remain jittery amid lack of guidance, as China markets are closed until Wednesday,” said ANZ analysts.

“Concerns around a spill-over impact on China’s property market are deepening. There is no relief on production cut pressure, as the government is asking more provinces around Beijing to cut their steel production to improve air quality ahead of the Winter Olympics next year.”


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https://www.afr.com/markets/equity-markets/...20210921-p58tdd




 
early birds
post Posted: Sep 20 2021, 12:06 AM
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https://www.afr.com/companies/mining/iron-o...20210919-p58t0e

Iron ore fell below $US100 a metric tonne for the first time in 14 months as China’s moves to clean up its heavy-polluting industrial sector drives down demand.

Futures prices sank to as low as $US99.50 on the Singapore Exchange on Friday. Iron ore has plunged more than 55 per cent since peaking in May, as the world’s biggest steelmaker intensifies production curbs to meet a target for lower volumes this year, and a sharp downturn in China’s property sector hurts demand.

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over shooting the support at 100 bucks?? unsure.gif



 
early birds
post Posted: Sep 14 2021, 09:24 AM
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Iron ore fell over 6% overnight to close at $122.60 per tonne, below critical support noted $130/125 area and approximately 50% below its high of $240 per tonne in May. China, which buys 97% of all iron ore from Australia and Brazil, is reducing steel output to reduce carbon emissions at the same time as Brazil is increasing supply. Under these influences, further falls towards $100 per tonne are likely.

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i pointed out that usd$100 mark 4 days ago ohmy.gif

it's all about supply and demand in the end!! imho


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nipper
post Posted: Sep 12 2021, 09:40 AM
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In Reply To: gregc's post @ Sep 12 2021, 07:19 AM

in is an interesting time. From the front page article of Share Cafe; Home


Dragon's Bite Taking Huge Chunks out of Ore Market
QUOTE
As readers of Share Cafe would have realised by now, iron ore prices have slumped sharply since their May highs as the Chinese government attempts to cut carbon emissions and punish Australian iron ore exporters ahead of the Glasgow climate change summit and then the Winter Olympics near Beijing in February 2022.

In fact, Share Cafe started reporting the government campaign in June and July amid reports of changes to tariffs and export taxes to try and force Chinese steelmakers to source more finished product from offshore (thereby exportin g pollution and carbon emissions) and announcing plans to restrict June to December crude steel production so that total 2021 output was no more than the 2020 record of 1.065 billion tonnes.

Given that background and consistent reporting revealing price movements and some of the reasons why, it came as a surprise to find some business media discovering the Chinese crack down with headlines like "China curbs steel output" and "iron ore set for price hit as China curbs steel output" as though the news is, well, new.

It is not, iron ore has already taken a massive price hit before the AFR front page discovery on Thursday. The Metal Bulletin's Fastmarkets index hit an all-time high of $US237.57 a tonne on May 12 this year for 62% Fe fines (the sort shipped from the Pilbara and the global benchmark) shipped to northern China)

Fastmarkets website had the price of 62% fe fines at $US130.26 a tonne on Thursday.

Now if a price fall of $US107 a tonne or more than 45% isn't a price hit then what is? And that small ($US1.93 a tonne) fall took the price of 62% Fe fines to an 11 month low.

China's campaign against steel industry carbon emissions started in April and has continued to the point where data next week will show it has helped depressed production across wide sections of the economy....
read more:

https://www.sharecafe.com.au/2021/09/10/dra...-of-ore-market/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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gregc
post Posted: Sep 12 2021, 07:19 AM
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Some strong arguments that the iron ore price has been talked down by China, yet port inventories in China has hit records in the past month.


https://asiamarkets.com/chinas-iron-ore-dea...mate-deception/



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early birds
post Posted: Sep 10 2021, 10:43 AM
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https://www.afr.com/chanticleer/a-silver-li...20210909-p58qbn

The fresh 4.2 per cent fall to US132.19 a tonne on Wednesday night certainly doesn’t make it easy, but Citi’s veteran mining analyst Paul McTaggart makes the case that lower prices might provide investors with much greater confidence in earnings forecasts for the next few years.

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hope that analysis is right. i rechon usd $ 100 would be the floor . imho though!! unsure.gif



 


nipper
post Posted: Aug 28 2021, 09:25 AM
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QUOTE
Steel demand has turned down in China in the past six weeks as construction has slowed, car making weakened and other users reported weaker demand. So the steel mills are now looking at price rather than iron content as the driver for their purchases.

The 3% iron difference between the Pilbara and Brazilian fines isn’t a big deal but it is the cheaper price of the Pilbara product ... both for 62% and 58% that is now more attractive to the steel makers.

That switch in preferences has helped global iron ore prices.......


https://www.sharecafe.com.au/2021/08/27/up-...-ore-to-peddle/




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 31 2021, 10:26 AM
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In Reply To: early birds's post @ Jul 20 2021, 09:51 AM

reversing direction and gaining speed:

the spot price for 62Fe iron ore tumbled 7.4 per cent to $US181.57 a tonne on Friday, according to Fastmarkets MB.

....... enjoy the dividends while you can.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Jul 20 2021, 09:51 AM
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https://www.sharecafe.com.au/2021/07/19/hed...-ore-shipments/

Shipments to China in the June quarter fell nearly 13.4 million tonnes to 114.5 million tonnes from just over 128 million tonnes in the same quarter of last year.

The shortfall to China was covered by a rise in exports to Japan and South Korea in the six months to June which is the second biggest customer for iron ore from Port Hedland.

Japanese steel mills took 14.607 million tonnes in the June half, up from 12.31 million tonnes in the same period of 2020.

Exports to South Korea rose to 23.29 million tonnes from just under 22 million tonnes in the June half year.

Weak performances dogged the Pilbara based miners in the June quarter.

Besides the slide from 2020 from Port Hedland, Rio Tinto, which ships through Dampier and Cape Lambert, reported bad weather hit its June production and sales performance.

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better find more demand out side of china soon.

 
nipper
post Posted: May 13 2021, 08:33 AM
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In Reply To: nipper's post @ Apr 24 2021, 10:01 AM

Iron ore rose back through $US230 a tonne, extending its rally on deepening optimism for prices and demand for both the steel-making material and steel.

The spot price of iron ore rose $US8.64 or 3.8 per cent to $US237.57 per tonne on Wednesday, according to Fastmarkets MB; this price has risen 25.8 per cent since trading resumed after the Labour Day break in China earlier this month.

S&P Global Platts said its IODEX 62 per cent iron ore index rose to $US233.10 a tonne. The index is up 21 per cent the past week, 35 per cent the past month and 46 per cent so far this year.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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