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Iron Ore, The Iron Ore Industry
early birds
post Posted: Aug 22 2019, 10:08 AM
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https://www.afr.com/markets/commodities/iro...20190822-p52jix


Iron ore's stunning fall to earth accelerated this week - credit to BHP - with the spot price now having tumbled almost 30 per cent this month.

The spot price, as reported by Fastmarkets MB, tumbled 6.3 per cent to $US82.38 a tonne at its Wednesday setting. It ended July at $US117.15; that's a 29.6 per cent retreat.

The catalyst was BHP's warning of global economic headwinds.




The most-traded iron ore on the Dalian Commodity Exchange, for January 2020 delivery, fell for a fifth session in a row on Wednesday, closing down 4.3 per cent at 589.50 yuan a tonne, its weakest finish since June 10. It slid as much as 5.4 per cent during the session.

The most-active coke contract, also with January 2020 expiry, dropped 1.1 per cent to 1963 yuan a tonne, its lowest close in nearly five months.

"(BHP's outlook) suggested the market could see considerable volatility in prices ahead as the market continues to adjust to supply disruptions," ANZ Research said in a note.
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even out of biggest producer VALE , the ore still over supplied???? ohmy.gif emmmm interesting!! unsure.gif


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blacksheep
post Posted: Aug 15 2019, 07:36 PM
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In Reply To: blacksheep's post @ Aug 5 2019, 02:58 PM

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HONG KONG (Reuters Breakingviews) - Iron ore is feeling the pain of Beijing’s stimulus restraint. Prices for the steelmaking ingredient have cooled after a spike this year. That’s partly thanks to easing supply pressures. China, though, has yet to help demand by splurging on bridges and buildings to counter flagging growth. Government efforts to revive a cooling economy may be far less steel-intensive this time around.


read more - https://www.reuters.com/article/us-china-ec...t-idUSKCN1V50J4



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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: Aug 5 2019, 02:58 PM
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In Reply To: blacksheep's post @ Jul 25 2019, 08:25 PM

Trade Spat Puts Iron Ore Price Under Pressure
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Standby for another round of selling in the big three iron ore companies today in the wake of a slump in global prices on Friday after Donald Trump’s move to step up his trade war with China.

Rather than the prospect of more Brazilian iron ore coming onto the market pushing prices lower, it was Trump’s inflammatory tweets warning of another 10% tariff on $US300 billion of imports from China from September 1 that triggered Friday’s price plunge.

According to Metal Bulletin figures for 62% iron ore, the index price fell 6.9% to $US107.73 a tonne from $US115.68 on Thursday. That took the week’s losses to 9% from the previous week’s close of $US118.31 a tonne

Friday saw a big sell down in the price of BHP, Rio, and Fortescue shares on news that Vale (the big Brazilian miner) is now producing more iron ore.

That saw Rio shares lose 3.1% on Friday (and 3.5%) for the week, and3.3% in London on Friday night. BHP shares fell 3.7% on Friday and more than 5% for the week. BHP shares fell 4.7% in London on Friday.

Fortescue was the big loser – its shares slid 6.1% on Friday to be down 7.8% for the week.

Vale is producing iron ore at an annual rate of around 340 to 345 million tonnes a year, according to a company briefing last week. That compares to the estimated guidance for 2019 of 307 million to 332 million tonnes of iron ore and pellets.

That compares to around 400 million tonnes of iron ore and pellets (384.6 million tonnes of iron ore fines) in 2018.

Investors again failed to heed comments from Vale management that the higher production rate would need to replace 6 million tonnes of iron ore of offshore inventory that was drawn down in the first and second quarters to help maintain suppliers to customers.

Despite the higher rate, Vale again said last week it will take two more years, perhaps three for production and sales return to 2018 levels,

Most of that was from the company’s big Malaysian facility. That’s just over a week’s production from the company’s northern mining complex and means the ore will not be sold into the global market but used to replenish stockpiles.

https://www.sharecafe.com.au/2019/08/05/tra...under-pressure/

Currently.....
FMG down 6%
BHP down 2.99%
RIO down 3.25%




--------------------
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: early birds  
 
blacksheep
post Posted: Jul 25 2019, 08:25 PM
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In Reply To: blacksheep's post @ Jul 24 2019, 10:43 AM

News hit our IO miners today - had to happen
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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: early birds  
 
blacksheep
post Posted: Jul 24 2019, 10:43 AM
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Brazil's Vale to partially resume dry processing at Vargem Grande complex
QUOTE
SAO PAULO (Reuters) - Brazilian miner Vale SA has been authorized to partially resume dry processing operations at its Vargem Grande complex, which should add 5 million tonnes to annual production, the company said in a securities filing on Tuesday.


https://www.reuters.com/article/us-vale-sa-...x-idUSKCN1UI2WG



--------------------
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: Jul 3 2019, 02:26 PM
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In Reply To: nipper's post @ Jun 14 2019, 04:37 PM

consistent, insistent, persistent
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Yet another near six-year-old record for global iron ore prices on Tuesday with the price jumping to $US125.77 a tonne for the standard 62% Fe product delivered to northern China.

The $US2.12 a tonne or 2% rise means the price for the 62% grade ore has risen more than 6.7% in the first two days of July and is up 74% so far in 2019.

The Metal Bulletin commented that prices rose Tuesday due to “persistently tight supply and news about an easing of the restrictions on steel production in China.”
resistant

https://www.sharecafe.com.au/2019/07/03/per...ce-to-new-high/



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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
 


nipper
post Posted: Jun 14 2019, 04:37 PM
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62Fe above $110 a tonne - described as persistent bullishness, it's a problem our Govt would like to continue

https://www.sharecafe.com.au/2019/06/14/iro...y-crunch-fears/

Vale saying they will move to dry processing reveals as much about the nervousness of tailings dam situation. And then the new plant(s) will need to be built. Nothing happens in a day



--------------------
"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: Mar 26 2019, 02:11 PM
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In Reply To: blacksheep's post @ Mar 24 2019, 11:02 AM

Vale ordered to halt 13 more dams, Brucutu mine restart delayed
QUOTE
Brazilian mining giant Vale (NYSE:VALE) has been hit by a local court injunction that forces it to freeze operations at 13 of its tailings dams in the country.

The world’s biggest iron ore producer, which is expected to release its fourth-quarter figures on Wednesday, said the order will impact production at its massive Brucutu mine, as it will now take longer than expected to bring it back on line.

Last week, Vale was given the green-light to reopen Brucutu, which has an annual capacity of 30 million tonnes of iron ore, or about 8% of the company's annual output.
Operations at Brucutu, the largest iron ore mine in Minas Gerais state, have been halted for over a month, as part of intense scrutiny from global an local authorities on Vale’s operations following January's dam collapse at the company’s Corrego do Feijão mine, which left at least 300 people dead.

Last week, the miner was given the green-light to reopen Brucutu, which has an annual capacity of 30 million tonnes of iron ore, or about 8% of Vale’s annual output.

News of the injunction come on the heels the company’s shutdown of its Alegria mine, in the Mariana complex of Minas Gerais state, which may remove up to 10 million tonnes of iron ore a year from the market.

It also follows yet another massive evacuation of the communities located by Vale’s Sul Superior Dam, at the Gongo Soco mine, which was found to be in a critical condition in terms of stability.

read more - http://www.mining.com/vale-ordered-halt-13...estart-delayed/



--------------------
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, 11:02 AM
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Here we go again...
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
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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 20 2019, 09:59 PM
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Posts: 6,141
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In Reply To: blacksheep's post @ Mar 20 2019, 06:40 PM

Iron ore futures in China are getting hosed
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
 
 


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