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Daily Iron Ore Price, Commodities and Precious Metals Update - September 2014
Topic Started: 2 Sep 2014, 05:16 PM (12,913 Views)
newjez
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deluded
30 Sep 2014, 11:05 AM
It's sad how almost every analyst (armchair or otherwise) clings so fiercely to the blind hope that loss making mines will be closed in China before our own loss making mines close here. Surely, every Australian personally knows by now that zombie institutions are the goal. Our economic wizards teach us that debt = wealth creation, so loss making mines are GOOD! More losses = more debt = more wealth!

Either you fools accept that our own loss making industries are all going to close, or stop hoping that China's mines will close. Because the same fundamentals you're using to justify mine closures in China, apply to the entire Australian economy.
China's only a controlled economy when it's convenient? They are such fools.
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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CBA Commodities Daily Alert 30-Sep-14

Posted Image

Indonesia adopts new coal laws

According to the Indonesian Coal Mining Association (ICMA),
Indonesia’s coal exports could fall ~15-20% from September to
October, and potentially ~5% yoy this year, as Indonesia’s
government enacts new regulations that will require coal exporters to
obtain government export permits from 1 October. The move comes
as Indonesia tries to stop illegal mining and keep enough supply for
the country’s domestic power plants.

Commodity prices finished mostly lower as the US dollar
strengthened, reducing the purchasing power of non-US consumers.
Base metals also fell on demand concerns after a gauge of China’s
manufacturing sector showed a slower expansion in September than
initially estimated. Crude oil benchmarks also slumped on surplus
concerns, after a Bloomberg survey showed that OPEC crude oil
output lifted in September, with Libya’s crude oil production
estimated at the highest level in the last year. Iron ore fell by 0.3% to
USD77.50/t (CFR China).

The final reading of the HSBC-Markit China Manufacturing PMI was
50.2 in September, in line with August and below the initial estimate
of 50.5. September PMI indices are to be released globally, starting
in Asia, from 11am Sydney time. China’s NBS measure, which is
oriented to larger companies, is expected to print at 51.0, down from
51.1 in August. A reading above 50 indicates an expansion.

Japanese steelmakers and Australian coal producers have settled the
December quarter benchmark contract for semi-soft coking coal at
USD87/t (FOB Australia), down from USD89/t in 3Q14.
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How's your $120 a tonnne call now Timmy ?

More chance of dinosaurs appearing.....

Or Aliens.....

Or pigs flying......
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