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Iron ore - supply and demand rides again
Topic Started: 30 May 2014, 03:23 PM (44,283 Views)
Foxy
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Zero is coming...

A world of Pain.

Peter
Foxbat has witnessed the new retraining for the mining workers.

Seems to work.

https://www.youtube.com/watch?v=JGrJttCKt70

I suppose when you are used to $200,000 per year to blow on pole dancers and booze you need a little time to adjust.

Good luck guys.

Peter
http://www.smh.com.au/business/mining-and-resources/bhp-expects-iron-ore-price-decline-over-time-20140704-zsvm8.html

$60 per ton here we come.

Peter
Edited by Foxy, 4 Jul 2014, 04:54 PM.
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doubleview
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As we know markets are efficient!

http://australianpropertyforum.com/topic/9836474/6/#post8389058
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newjez
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Lou Ellen
4 Jul 2014, 09:53 AM
The Port Hedland Port Authority has released its June shipping figures and the numbers are a little bit of surprise to me. Total shipments fell 7% to 33.6 million tonnes (mt).

In aggregate terms, China accounted for much of the fall but its share still rebounded strongly because other nation’s demand fell faster.

There is no obvious reason for this. The main users of the port are BHP, FMG and AGO and nameplate production is higher than this. Indeed, shipments were higher in March, before peak output was reached. AGO has been laying off staff but has said nothing about winding down output. It only ships a little over 10mt per annum anyway.

The likely conclusion is that either one or all of the miner’s are rationing stock to protect the price. That may seem sensible but also risks missing volume targets. Quarterly production and sales reports just got more interesting.
Shorter month.

On a daily basis, June shipments to China were higher, averaging 973,000 tonnes a day versus 965,000 in May.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Perthite
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I see BHP has waved the white flag on prices. Expecting them to fall away from here over the long term.

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newjez
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Perthite
4 Jul 2014, 06:56 PM
I see BHP has waved the white flag on prices. Expecting them to fall away from here over the long term.

tbh I was surprised. I would have thought the current prices were about right. I was expecting it to bounce a little. But if 90 is the new normal, it will be interesting them re write the WA state budget. What else can they cut?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Foxy
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Zero is coming...

newjez
4 Jul 2014, 07:29 PM
tbh I was surprised. I would have thought the current prices were about right. I was expecting it to bounce a little. But if 90 is the new normal, it will be interesting them re write the WA state budget. What else can they cut?
yes but right for whom?

Peter
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Perthite
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newjez
4 Jul 2014, 07:29 PM
tbh I was surprised. I would have thought the current prices were about right. I was expecting it to bounce a little. But if 90 is the new normal, it will be interesting them re write the WA state budget. What else can they cut?
They just went for a massive grab for cash with traffic fines.

Tampering with number plates or covering plates as to avoid identification was previously an offence which had no fine.

The new fine is $1200.
Edited by Perthite, 5 Jul 2014, 05:38 PM.
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lulldapull
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I don't know what the 'surprise' is hearing everyday for the last 2 years that China is slowing down? :wak:

However, the opinions of certain forum buffoons about mining's future is laughable now isn't it?

It will be even more laughable when as anticipated, property starts tumbling down. :lol

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Foxy
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Zero is coming...

lulldapull
5 Jul 2014, 06:03 PM
I don't know what the 'surprise' is hearing everyday for the last 2 years that China is slowing down? :wak:

However, the opinions of certain forum buffoons about mining's future is laughable now isn't it?

It will be even more laughable when as anticipated, property starts tumbling down. :lol

Supply and demand.

Don't bet against it.

Peter
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dachopper
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I wonder if the cost of booze will go down in Perth now ?
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