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Daily Iron Ore Price, Commodities and Precious Metals Update - September 2014
Topic Started: 2 Sep 2014, 05:16 PM (12,923 Views)
newjez
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Oh dear. But don't worry, apparently Perth is not a mining town. Peachy.
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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Quote:
 
need2know: Iron ore hits five-year low

September 4, 2014 - 6:38AM

Iron ore has slumped to a fresh five-year low, falling 1.2% to be fetching $US85.70 per metric tonne. On the local market, shares are poised to open little changed ahead of retail sales and trade data after a weak lead from Wall Street.

What you need2know:

• SPI futures is down 5 points at 5649

• AUD at 93.45 US cents, 97.88 Japanese yen, 71.08 Euro cents and 56.77 British pence

• On Wall St, S&P 500 -0.1%, Dow +0.1%, Nasdaq -0.6%

• In Europe, Euro Stoxx 50 +1.2%, FTSE +0.7%, CAC +1%, DAX +1.3%

• Iron ore slips 1.2% to $US85.70 per metric tonne

• Spot gold up 0.4% to $US1270.03 an ounce

• Brent oil up 2.1% at $US102.40 per barrel

Read more: http://www.smh.com.au/business/markets/need2know-iron-ore-hits-fiveyear-low-20140904-3euas.html
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Shadow
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Evil Mouzealot Specufestor

Like a typical bear, David Llewellyn-Smith (Houses & Holes) of Macrobusiness considers anything that damages the economy to be worthy of celebration...

Yes David, we should celebrate things that impact the economy in a negative way...

Posted Image
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Admin
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CBA Commodities Daily Alert 03-Sep-14

Posted Image

Nickel lifts on Filipino supply concerns

Nickel prices rose to their highest level in four weeks on supply
concerns after a Philippines senator filed a bill that would require raw
minerals to be processed before exports, boosting expectations the
Philippines would implement mining laws similar to Indonesia. Since
Indonesia enacted its mineral ore export ban in January, the
Philippines has stepped up its nickel ore exports to China,
accounting for nearly all of China’s nickel ore imports in July. Nickel
ore is feedstock for China’s nickel pig iron sector.

Iron ore fell by 1.2% to USD85.70/t (CFR China) on continuing
surplus concerns, as Chinese steel mills and traders remain reluctant
to procure iron ore given tight credit conditions, slowing steel
demand, falling steel prices and the wide availability of iron ore.

Crude oil benchmarks rose on demand hopes after Russian
President, Vladimir Putin, outlined a peace plan for Ukraine. US WTI
crude oil also rose after on views that US crude oil inventories fell last
week. The peace talks for the conflict in Ukraine also prompted
palladium futures lower, as concerns eased that trade sanctions
against Russia would limit supply from the world’s largest palladium
producer.

Iron ore exports from Australia’s Port Hedland lifted 36.5% y/y to a
record-high of 37.4Mt in August, as BHP and Fortescue increased
iron ore production. Iron ore exports to China from the bulk port
terminal rose by 43.5% y/y to a record high of 32Mt.

Rio Tinto said it will cut more jobs at its Kestrel metallurgical and
thermal coal mine in Australia, as low coal prices continue to
pressure the company to reduce costs at its coal mines.
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newjez
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Shadow
4 Sep 2014, 09:34 AM
Like a typical bear, David Llewellyn-Smith (Houses & Holes) of Macrobusiness considers anything that damages the economy to be worthy of celebration...

Yes David, we should celebrate things that impact the economy in a negative way...

Posted Image
It's good that you're not bitter.
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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Elastic
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Shadow
4 Sep 2014, 09:34 AM
Like a typical bear, David Llewellyn-Smith (Houses & Holes) of Macrobusiness considers anything that damages the economy to be worthy of celebration...

Yes David, we should celebrate things that impact the economy in a negative way...

Posted Image
You would respond in the same way if Sydney house prices hit $1mil by 2015.
When you've staked your reputation on the outcome, you'd feel some satisfaction if your predictions were fulfilled, even though it was bad for the economy.
Only a rat can win a rat race.

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Shadow
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Elastic
4 Sep 2014, 12:29 PM
You would respond in the same way if Sydney house prices hit $1mil by 2015.
When you've staked your reputation on the outcome, you'd feel some satisfaction if your predictions were fulfilled, even though it was bad for the economy.
Lots of people do actually benefit financially when house prices rise, so millions of people do have reason to celebrate. But who benefits when the iron ore price falls? Who is Llewellyn-Smith celebrating with, apart from a small group of bitter whinging bears who will celebrate any bad news because they falsely believe it brings closer the house price crash they desire. They even cheer on unemployment. They want a recession and they want people to lose their jobs because they hope to benefit from the misfortune of others.
Edited by Shadow, 4 Sep 2014, 02:25 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Perthite
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Me.

:to:

Waaa... Welcome to capitalism... you will have your turn eventually.
Edited by Perthite, 4 Sep 2014, 04:20 PM.
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newjez
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Shadow
4 Sep 2014, 02:25 PM
Lots of people do actually benefit financially when house prices rise, so millions of people do have reason to celebrate. But who benefits when the iron ore price falls? Who is Llewellyn-Smith celebrating with, apart from a small group of bitter whinging bears who will celebrate any bad news because they falsely believe it brings closer the house price crash they desire. They even cheer on unemployment. They want a recession and they want people to lose their jobs because they hope to benefit from the misfortune of others.
Those who work in Tourism, manufacturing ....
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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Massive
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Shadow
4 Sep 2014, 02:25 PM
But who benefits when the iron ore price falls?
those who have already hedged themselves in anticipation for such an occurance...
those who work in industries that would benefit from a lower aussie dollar.
those who are tired of having prices of all their household items and services through the roof because of inflated wages in mining sector...
etc..

Quote:
 
They want a recession and they want people to lose their jobs because they hope to benefit from the misfortune of others.

have you been having a few dinner dates with skamy ?

edit: regarding acting excited - hard not to be if you have a feeling you aren't one of these guys:
Posted Image
Edited by Massive, 4 Sep 2014, 04:55 PM.
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