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FMG, FORTESCUE METALS GROUP LTD
blacksheep
post Posted: Apr 9 2019, 11:37 AM
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Updated chart - 20 year. SP broke through the $8.00 mark yesterday - currently $8.18. All time high was $13.15 in 2008 - just before the GFC
https://www.shortman.com.au/stock?q=fmg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 24 2019, 11:12 AM
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Here we go again...issues affecting IO prices and individual company SP's
Mass evacuations as Brazil's Vale reports dam in danger of collapse
By Diane Jeantet
March 24, 2019 — 10.12am
QUOTE
Rio de Janeiro: Brazilian mining giant Vale says that communities in the south-eastern state of Minas Gerais have been ordered to evacuate after independent auditors found that one of its dams could collapse at any moment.

On Friday, the company raised the level of risk at a mining waste dam in the city of Barao de Cocais to three, the highest grade. According to Brazil's mining and energy secretary, level three means that "a rupture is imminent or already happening".

Residents in a 10-kilometre perimeter of the dam had already been told to leave by state authorities in February after Vale raised risk levels to grade two, a company spokesperson told the Associated Press on Saturday.

read more - https://www.theage.com.au/world/south-ameri...324-p516zy.html


Meanwhile at home (Australia)
Cyclone Veronica poses the biggest risk to the Pilbara in a decade, authorities warn
QUOTE
A red alert was issued on Saturday afternoon and is current for people in or near communities from Pardoo to Mardie, including Port Hedland, South Hedland, Whim Creek, Point, Samson, Wickham, Roebourne, Karratha and Dampier, but excluding Marble Bar.

https://www.abc.net.au/news/2019-03-24/cycl...-coast/10934004

extract from Bloomberg article - https://www.bloomberg.com/news/articles/201...atter-australia
QUOTE
Following is a table of some of the companies and operations that may be affected by the cyclones.

COMPANY CYCLONE OPERATIONS PRODUCT REGION
Glencore Trevor McArthur River Zinc Northern Territory
South32 Trevor GEMCO Manganese Northern Territory
BHP Veronica Pilbara/Offshore WA Iron ore/oil Western Australia
Rio Tinto Veronica Pilbara Iron ore Western Australia
Fortescue Veronica Pilbara Iron ore Western Australia
Woodside Veronica NWS/Pluto LNG Western Australia
Chevron Veronica Gorgon LNG Western Australia
Santos Veronica Varanus/Devil Creek Gas Western Australia
Jadestone Veronica Stag Oil Western Australia
Barrick-Newmont Veronica Kalgoorlie Gold Western Australia




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 10:01 PM
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In Reply To: blacksheep's post @ Mar 20 2019, 06:38 PM

Iron ore futures in China are getting hosed
DAVID SCUTT
MAR 20, 2019, 2:44 PM

Read more at https://www.businessinsider.com.au/iron-ore...owHQwRyEJG6G.99



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 06:38 PM
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Posts: 5,699
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In Reply To: blacksheep's post @ Feb 2 2019, 10:33 AM

FMG finished the day down 6.74% @ $6.36 - no doubt partly due to news that the Brazilian courts had cleared the way for Vale to resume operations at its Brucutu mine, its largest iron ore complex in the state of Minas Gerais. Other IO miners also down, albeit no as dramatic as FMG - RIO down 2.81%, BHP down 1.04%. Threat of another cyclone heading towards Karratha and Port Hedland also didn't help

https://www.shortman.com.au/stock?q=fmg
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: boylep  
 
blacksheep
post Posted: Mar 8 2019, 01:59 PM
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In Reply To: blacksheep's post @ Mar 4 2019, 03:06 PM

Australia's Port Hedland iron ore shipments to China slip 5 percent in February

QUOTE
Iron ore shipments to China from the world’s biggest iron ore port totaled 33.5 million tonnes in February, compared with January’s 35.1 million tonnes, the Pilbara Ports Authority said.

Port Hedland is used by three of Australia’s top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rinehart’s Hancock Prospecting.

https://www.reuters.com/article/us-australi...y-idUSKCN1QP0BE



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 4 2019, 03:06 PM
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Posts: 5,699
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In Reply To: blacksheep's post @ Feb 6 2019, 10:50 AM

Chinese steel mills delay iron ore restocking, eye cheaper alternatives
Reuters | 2 days ago |
QUOTE
BEIJING – Chinese steel mills are slowing iron ore purchases and seeking cheaper alternatives to Australian supplies after a steep run-up in prices in February, five mill executives and several traders told Reuters this week.

QUOTE
Non-mainstream sources
Mills are also avoiding major suppliers like Vale and Australian rivals Rio Tinto, BHP Group and Fortescue Metals Group (FMG), and are seeking cheaper ore from small miners in Australia, South Africa, India and Indonesia, said the traders.

"Even mainstream low-grade ore has soared to a level that we can't afford," said a purchase manager at a steel mill in Jiangxi province.

FMG's Super Special Fines, a blend with iron content of only 56.7 percent, is now at a discount of 16 percent to benchmark 62 percent iron ore versus 33 percent last month.

"(Moderating margins) have influenced customers' preferences for specific products and created increasing demand for lower-grade iron ore," said Danny Goeman, Fortescue sales and marketing director, at a conference in Beijing on Wednesday.

Mills are also considering alternatives to iron ore such as iron sands.

The Jiangxi mill purchase manager said it bought iron sand from Indonesia with 56 percent iron content to save on costs.

"Non-mainstream products suddenly became very hot, although more people are asking rather than making actual purchases," said a manager at a major commodities trading house in eastern Zhejiang province.

($1 = 6.6862 Chinese yuan renminbi)

(Reporting by Muyu Xu and Dominique Patton)


Elsewhere - Iron ore prices perk up as Chinese air quality gets hazy
DAVID SCUTT
MAR 4, 2019, 7:36 AM

Read more at https://www.businessinsider.com.au/iron-ore...yKOVj5AAC8L1.99

FMG SP is up 6.69% currently @ $6.38
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Feb 6 2019, 10:50 AM
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In Reply To: blacksheep's post @ Feb 2 2019, 10:33 AM

Updated chart - SP crossed $6.00 mark - currently $6.025
Total short positions as at 30/1/19 = 2.42%%
https://www.shortman.com.au/stock?q=SYR
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 2 2019, 10:33 AM
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In Reply To: blacksheep's post @ Jan 30 2019, 12:14 PM

Is the IO rally over - Shorts have been piling into FMG, RIO and BHP in recent days.

Bloomberg article is of the same opinion - several reasons given - see link for full details plus charts
This iron ore rally is living on borrowed time
Bloomberg Opinion | about 5 hours ago |
extract
QUOTE
Vale’s prize asset, the S11D mine, is still running at barely more than half the full annual-production capacity of 90 million tons that it should hit next year, giving plenty of scope to make up the shortfall from other pits.The more important issue is what’s happening on the demand side, though. The Baltic Dry Index is a frequently watched measure of shipping costs, heavily influenced by the price of leasing the Capesize bulk ships that transport coal and iron ore. On Friday it fell to its lowest level in nearly two years, down almost 40 percent in the space of a month.


QUOTE
The more likely scenario is that prices trying to scale the hill of shrinking supply are ignoring the gulf of falling demand. This rally is living on borrowed time.

http://www.mining.com/web/iron-ore-rally-l...-borrowed-time/

Three notable short alerts in the last 3 trading days, yet to added to total shorts @ 25/1/19 which were 2.39%
QUOTE
Thu 31st Jan, 2019 19,099,879 3,078,964,918 0.62% 49,718,591 38.42%
Wed 30th Jan, 2019 34,196,042 3,078,964,918 1.11% 70,644,673 48.41%
Tue 29th Jan, 2019 20,952,357 3,078,964,918 0.68% 41,709,343 50.23%

https://www.shortman.com.au/stock?q=fmg

The spike in SP has left a couple of gaps @ $4.82 and $5.12. SP ended week @ $5.84
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Feb 1 2019, 06:27 PM
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Posts: 5,395
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Spotlight on Fortescue Metals Group
QUOTE
Fortescue Metals Group (ASX: FMG) is one of the world's largest producers of iron ore. This week FMG announced its quarterly production update which demonstrated its operations have generated strong cashflows through the successful execution of its product strategy, resulting in higher realised prices and lower costs.

The number one producer of iron ore globally, Vale, experienced a tragic dam accident on a site in Brazil, which saw the share prices of its competitors rally. Vale announced it would shut 10 dams and suspend mining at some of its operations until safety and operational issues are resolved. Market expectations are that Vale would reduce the amount of iron ore mined and lead to a tighter global iron ore market, lifting the price of the resource.

FMG has enjoyed a surge in demand from China as its new, higher iron content mix is currently well received by Chinese steel mills. The higher iron content ore is a core part of FMG's new strategy as the product commands a higher price than lower iron grades, fitting into Beijing's initiative to reduce pollution.

We hold FMG as a market-driven investment in WAM Leaders and Century Australia. FMG shares closed up 21.7% for the week.
Wilson Asset management



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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
 
blacksheep
post Posted: Jan 30 2019, 12:14 PM
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In Reply To: blacksheep's post @ Jan 29 2019, 08:30 PM

QUOTE
The fallout from the Brazilian tailings dam disaster took a stunning turn on Wednesday, with the owner of the dam, Vale, signalling it will pull as much as 40 million tonnes out of the market as it races to decommission 19 similar dams.

https://www.afr.com/brand/chanticleer/vale-...20190130-h1an2c

SP up a further 6.16% currently @ $5.34.

Notable short alert recorded yesterday suggests someone is betting the SP will go down. Total short positions as at 23/1/2019 = 2.92%

QUOTE
Tue 29th Jan, 2019 20,952,357 3,078,964,918 0.68% 41,709,343 50.23%

https://www.shortman.com.au/stock?q=fmg
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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