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Daily Iron Ore Price, Commodities and Precious Metals Update - August 2014
Topic Started: 4 Aug 2014, 01:35 PM (8,699 Views)
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Perthite
22 Aug 2014, 10:30 PM
Man 80 bucks is getting close.
The iron ore futures dropped below $90 for the first time in a while last night.

We are about to break though the lows we hitbin 2012 and prices are now where they were five years ago.

I told peter last month we will be testing the lows again this month.

Hows it looking now timmy , one less troll to deal with , who did not have a clue about anything, typical bull, full of shit and not the slightest clue in the world.


http://www.barchart.com/futures/commodities/ITI
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SittingOnDeFence
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Smoke must be coming out of skamy's ears with all this doom gloomer talk
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John Frum
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newjez
22 Aug 2014, 10:36 PM
It may test the lows again, but I doubt it will breach 80.
It's a sustained fall, unlike the plunge and correction of a couple of years ago.

All bets are off.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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John Frum
23 Aug 2014, 12:23 AM
It's a sustained fall, unlike the plunge and correction of a couple of years ago.

All bets are off.
Mining was the last hoorah for Australia, abeit funded by counterfeit money from a Chinese printing press.

The rest of our jobs will be flushed away because of our uncompetitive wages, uncompetative on any world measure.

But the bulls wont let that fact get in the way of their delusional agenda ;)

No, the ship is not sinking, they said it was unsinkable, even the captain said so, so I am just going to stay here and ride it out.

There were those that were capable and could see the obviuos and bailed out, but there were many that just kept believing the bullshit until it was all too late, they thought it could never happen . :bye:

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Perthite
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Almost in the 80's.

:tu:
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stinkbug
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Perthite
25 Aug 2014, 02:35 PM
Almost in the 80's.

:tu:
Does cheaper iron ore advantage your personally, or do just like seeing others fail?
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Perthite
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I enjoy making my position clear on an issue... (the price)

Being rubbished by all and sundry...

Then I have my turn.

:re:
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stinkbug
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Perthite
25 Aug 2014, 02:58 PM
I enjoy making my position clear on an issue... (the price)

Being rubbished by all and sundry...

Then I have my turn.

:re:
Everyone on this forum gets rubbished, it's the nature of having very light moderation.

FWIW, I'm actually getting a bit bored with this place, we don't seem to discuss anything new very often nowawdays.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Perthite
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stinkbug
25 Aug 2014, 03:01 PM
Everyone on this forum gets rubbished, it's the nature of having very light moderation.

FWIW, I'm actually getting a bit bored with this place, we don't seem to discuss anything new very often nowawdays.
I get the feeling that the state of China's Property market will be the focus of the next 18 months.
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Admin
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CBA Commodities Daily Alert 22-Aug-14

Posted Image

Iron ore falls 2% to USD 90/t

Iron ore fell by 2.0% to USD90.10/t (CFR China), reflecting reports
that buyers were seeking volumes from port stocks in preference to
seaborne markets because of the lower prices being offered at the
ports. Tighter credit conditions amongst iron ore traders and weaker
steel demand also helped push down prices.

Base metals and crude oil benchmarks finished mostly lower. Copper
continued to lift on better-than-expected US property data released
earlier in the week. Gold futures advanced on views that US interest
rates may remain lower for longer after US Federal Reserve chair,
Janet Yellen, said that US job markets still hadn't recovered fully
from the global financial crisis and policymakers must be cautious in
starting the process of lifting interest rates. Over the last week,
thermal coal fell marginally to USD69.3/t (FOB Newcastle), while
alumina advanced 1.6% w/w to USD321/t (FOB Australia).

Novelis, the world’s largest supplier of aluminium sheets to
carmakers, estimates that its sales to car manufacturers will almost
triple by 2020 as new emission regulations restrict the use of steel
and encourage the substitution to lightweight aluminium.

The total number of drill rigs deployed onshore in the US fell from
1,913 to 1,896 last week. Rigs deployed in oil plays declined from
1,589 to 1,564, while rigs deployed in gas plays increased from 321
to 330. The large fall in US oil rigs from record highs likely reflects
weaker US WTI crude oil prices and US oil rig operators moving
equipment to more profitable drilling locations.

China’s coking coal imports fell by 14.1% y/y to 5.05Mt in July.
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