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Iron Ore, The Iron Ore Industry
nipper
post Posted: May 27 2020, 01:24 PM
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And in Forbes, though the correspondent is familiar and local

https://www-forbes-com.cdn.ampproject.org/v...ron-ore-boom%2F



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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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nipper
post Posted: May 27 2020, 10:56 AM
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In Reply To: nipper's post @ May 16 2020, 04:35 PM

QUOTE
Iron ore shipments from Brazil have fallen by almost a quarter in May because of the country's coronavirus crisis, which is one of the worst in the world, said Macquarie analyst Serafino Capoferri. Brazil exported 15.27 million tonnes of iron ore in the first three weeks of May, he said. That is down from 19.4 million tonnes in the comparable period of 2019, when exports were already lower than normal following the fatal dam collapse at Vale's mine in Brumadinho.


"The situation in Brazil is pretty much out of control," said Mr Capoferri. He said the pandemic had caused difficulties at the country's mines, which are more labour-intensive and require people to work closer together than mines in Australia.


Vale has said the coronavirus will reduce the amount of iron it is able to produce this year. The company said in late April it will mine between 345 million and 370 million tonnes of iron ore powder and pellets in 2020, around 40 million tonnes less that it previously expected. Brazil as a whole mined 480 million tonnes of iron ore in 2019, according to the US Geological Survey, a fifth of global production and second only to Australia

Pilbara companies are the biggest beneficiaries



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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: May 16 2020, 04:35 PM
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Iron Ore Rises As Coronavirus Spread Threatens Brazilian Supplies
QUOTE
Global iron ore prices leapt a surprisingly strong 5% on Friday as doubts re-emerged about the security of Brazilian iron ore supplies in the wake of the continuing spread of COVID-19 across that country. The Metal Bulletin price for 62% Fe fines delivered to northern China jumped $US4.25 a tonne on Friday to end the week at $US88.60. That pushed the price of iron ore up by more than 5.4% for the week.

Traders reported that the rapid spread of the virus to the northern iron ore producing Para state of Brazil triggered concerns late last week. There have been no reports as yet of infections near the iron ore mining areas and port, but concerns are rising.

The Brazilian national and Para state governments have decreed mining, processing, commercialisation, and shipping essential operations, so they will continue if there is a lockdown.

QUOTE
Chinese trade data for April revealed a jump in shipments for last month. Customs data showed that 97.27 million tonnes were imported last month, up from 85.91 million tonnes in March and 80.77 million tonnes a year earlier, when shipments from Brazil’s top miner Vale were disrupted after a tailings dam disaster on January 25.
In fact imports in April of 2019 hit an 18 month low because of the shortfall from Brazil. In the first four months of 2020, China imported 360 million tonnes of iron ore, up 5.8% from 340.21 million tonnes in the same period last year, according to customs.


https://www.sharecafe.com.au/2020/05/11/iro...ilian-supplies/



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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: Apr 21 2020, 02:14 PM
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In addition to [BHPs] record iron ore production in the Pilbara, production was 7 per cent higher year on year at 60 million tonnes, there was record production at the Caval Ridge coal mine in Queensland and record average concentrator throughput was delivered at Chilean copper mine Escondida.

Full-year guidance remains unchanged for iron ore, metallurgical coal and petroleum, while minor trimming of guidance in other commodities is mainly due to COVID-19 putting the brakes on some operations.

Crucially, full-year cost guidance remains unchanged, suggesting the lower Australian dollar has helped to offset the increased costs associated with running mines and other operations in a socially distanced way.

With production strong and costs contained, the final piece of the puzzle is price – and it’s here where BHP has really good news for investors, and Australia.

One of the surprising features of the COVID-19 crisis is the resilience of iron ore, which has stayed above $US80 a tonne throughout. To put this in perspective, BHP’s full-year cost guidance for iron ore is for unit costs of $US13 to $US14 a tonne – that’s a hell of a margin in anyone’s language.




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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: Mar 18 2020, 06:43 AM
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QUOTE
Vale, has raised the possibility of curbing or suspending iron ore shipments because of the growing threat of the COVID-19 virus?

Certainly Vale’s surprise warning could very well boost global iron ore prices starting today. Iron ore was the only major globally traded commodity whose price rose in last week’s share, bond and commodity sell-off.

The price for 62% Fe fines delivered to northern China rose 96 cents on Friday to $US91.91 a tonne, according to the Metal Bulletin. That’s up 1.6% from the previous week’s close of $US90.19 a tonne.

Iron ore prices have been held up by supply constraints from brazil due to heavy rain and transport hitches, and from Rio’s lower than expected output from its Pilbara mines because of the damage caused by Cyclone Damien in February.

News that supplies from Brazil might be further constrained is likely to see Chinese steel mills and traders chase iron ore higher this week.

The three big Australian iron ore companies have not issued a statement about the impact of the COVID-19 virus on their mining operations, especially iron ore.
https://www.sharecafe.com.au/2020/03/14/bra...ore-production/

QUOTE
. .Amid all the carnage from China’s production, investment and retail sales figures yesterday (not to mention the car sales and airline passenger figures last week), one figure stood out – China’s steel production, which indicates the continuing resilience of the sector.

Monday’s data from the National Bureau of Statistics (NBS) showed that while there were sharp falls in output across most industrial sectors in January and February, the production of crude steel actually rose – up by 3.1% year on year.

The NBS said output totalled 154.7 million tonnes in January and February. With the one week shutdown for the Lunar New Year in late January and the impact of the quarantines in February, the figure was a big surprise.

It indicates around 77 million tonnes in each month – but the holidays probably trimmed January’s figure back to closer to 70 million tonnes, meaning there could have been a big rise in February.

Seeing output in December was 84.27 million tonnes without the impact of holidays or the virus, a figure around this level in February could have been possible.

This January and February had one extra day because of the leap year but with crude steel production running around 2.5 million tonnes a day, that doesn’t wipe out the all the rise.

In contrast, the production of cement fell by almost 30% YoY, computers and mobile phones by 31% YoY and 34% YoY respectively and motor vehicles by 46% YoY. ..
https://www.sharecafe.com.au/2020/03/17/ste...-of-china-data/



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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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nipper
post Posted: Dec 18 2019, 08:54 PM
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QUOTE
Platts survey of iron ore industry players showed most expected a range of between $US70 and $US80 a tonne (including freight) next year compared to recent spot prices above $US90 a tonne. The spot shipping rate from Western Australia to Qingdao is just over $US8 a tonne.

The survey showed 80 per cent of respondents expect higher imports by China's steel mills.

Longer term concerns about "peak steel" have been downplayed by HSBC chief economist Paul Bloxham, who highlights that China has defied forecasts – so far – for a peak in output.

Even assuming China's steel intensity pulls back over the next decade, growing demand from India, Indonesia, Brazil and the infrastructure-heavy focus of China's Belt and Road initiative mean peak steel is unlikely before 2030...




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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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blacksheep
post Posted: Dec 5 2019, 10:22 AM
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Buying iron ore is getting more like shopping on Amazon
Bloomberg News | December 4, 201
QUOTE
The world’s biggest iron ore miners are looking for novel ways of satisfying their customers and protecting market share in the $150 billion global industry.

From selling through a mobile app to portside sales, the likes of BHP Group, Rio Tinto Group and Vale SA are looking for an edge with buyers of the steelmaking raw material in China, the top customer. The need to retain their business is becoming ever more critical amid forecasts that the market is around its peak.


READ MORE - https://www.mining.com/web/buying-iron-ore-...ping-on-amazon/



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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: Nov 28 2019, 10:01 AM
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In Reply To: blacksheep's post @ Nov 12 2019, 01:45 PM

Iron ore price: World steel production shrinking
Frik Els | November 27, 2019
extract
QUOTE
World Steel Association data on Wednesday showed a 2.8% decline in global steel output in October to 151.5 million tonnes with production down across all regions.

The 50-year old industry body estimates that crude steel production in China, which is responsible for more than half the global total declined 0.6% year on year in October. The decline came on the back of capacity cuts during the country’s 70th anniversary celebrations.

China also places curbs on production during the winter months through March, but thanks to surging output earlier in 2019, year to date steel production is still up 7.6% to 746m tonnes.

US PROTECTIONISM OF STEEL WILL SUPPORT US PRODUCTION THROUGH RISING DOMESTIC PRICES ON THE BACK OF INCREASING DEMAND FOR LOCAL STEEL AS TARIFFS RENDER IMPORTED STEEL FAR MORE EXPENSIVE.

US output also fell during October, declining 2% in year on year terms to 7.4m tonnes. Given the nearly 40% drop in steel prices in the country over the past year as the effect of anti-dumping measures against China fade, production declines have been modest.

The US has also imposed imposed tariffs of 25% on steel exports coming from the EU, Canada and Mexico.

The decline in Europe was significant, registering an 8.7% drop. Profitability at steelmakers on the continent have eroded as excess capacity elsewhere ends up in the region which unlike the US has not taken any anti-dumping measures. Year to date EU crude steel output is down 3.6% to 122m tonnes.

World number three producer India which overtook Japan last year recorded a drop of 3.4% at 9.1m tonnes for October, reducing year to date gains to 3% at 84.2m tonnes.

Japanese production fell nearly 5% in October in part due to typhoons and year to date the country’s output is down 3.9% to 75.6m tonnes.

A new report by Fitch Solutions suggest the weak conditions may be temporary.

The macro economic research company in the Fitch ratings agency stable reports global steel production and consumption growth will accelerate in 2019-2020 compared to 2018.

read more - https://www.mining.com/iron-ore-price-world...tion-shrinking/



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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: Nov 12 2019, 01:45 PM
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In Reply To: blacksheep's post @ Nov 12 2019, 10:39 AM

The IO price roller coaster continues

QUOTE
Iron ore futures looking perky
Iron ore futures are soaring in Asia, pointing to the likelihood of a rebound in spot markets after prices slumped to fresh 9-month lows on Monday.

The January 2020 contract on the Dalian Commodities Exchange has jumped to ¥607.5 a tonne ($US86.70), up 2.5 per cent for the session. Iron ore futures in Singapore have gained a larger 3.5 per cent to $US79.21 a tonne.

The gains coincide with similar strength in Chinese steel futures in Shanghai on Tuesday. Rebar and hot-rolled coil contracts for January delivery have risen 1.8 and 1.4 per cent respectively for the session.




--------------------
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: Nov 12 2019, 10:39 AM
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In Reply To: blacksheep's post @ Oct 26 2019, 01:51 PM

Iron ore prices at 9-month low
By David Scutt
QUOTE
Iron ore prices continued to slide on Monday with all major grades hitting fresh 9-month lows, according to data from Fastmarkets MB, continuing the steep reversal from multi-year peaks struck earlier in the year. This has sent the materials sector down 0.9 per cent, the worst performer on the market this morning. BHP is down 1.2 per cent to $36.72, Fortescue is down 3.5 per cent to $8.73, and South32 is down 2.2 per cent to $2.69.

The spot price for benchmark 62 per cent iron ore fines fell 1.4 per cent to $US78.98 a tonne, leaving it at the lowest level since late January. 58 per cent fines fell by a similar margin while 65 per cent Brazilian fines slipped by a smaller 1 per cent. Vivek Dhar, mining and energy commodities analyst at the Commonwealth Bank, put the recent weakness down to weak demand in China.

“Steel mills in China and traders were reluctant to buy iron ore ahead of announcements on winter production cuts,” he told the bank’s clients on Monday. “Winter production cuts usually extend from mid November to mid March as policymakers look to reduce industrial output in northern China to combat seasonally higher air pollution.”

While analysts at Westpac Bank don’t expect the recent weakness to last, forecasting the benchmark iron ore price will finish this year at $US90 a tonne, it’s less optimistic about the longer-term outlook, predicting the benchmark will ease to $US65 a tonne by the end of 2020 as increased supply and softer Chinese demand collide.

“We expect prices to continue to decline in 2020 as supply recovers post Brazilian disasters, while demand subsides as Chinese property investment moderates,” Westpac senior economist Justin Smirk told clients. “Environmental goals are also seeing improved Chinese steel production efficiency and the higher use of scrap [steel].”

Thanks to a combination of supply disruptions from Australia and Brazil, most notably from the latter as a failure at a tailings dam at an iron ore facility operated by Vale in late January curtailed production on safety grounds, along with record Chinese steel production, prices for all major iron ore grades soared to fresh five-year highs earlier this year.

With evidence building that Brazilian supply is recovering, as seen in recent trade and Chinese iron ore port inventory data, much of the price spike has now been entirely unwound.




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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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