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Daily Iron Ore Price, Commodities and Precious Metals Update - October 2014
Topic Started: 3 Oct 2014, 10:08 AM (14,641 Views)
Black Panther
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Perthite
19 Oct 2014, 11:15 PM
Thanks for the feedback Alex. Noted.
See Perthite, no need to get overly sensitive and emotional. You are just imagining things again.
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Perthite
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Black Panther
19 Oct 2014, 11:19 PM
See Perthite, no need to get overly sensitive and emotional. You are just imagining things again.
Like you... a figment of someones imagination.

Responding to you or your alterego is a waste of time.

This is BP posting and targeting me as a guest.

http://australianpropertyforum.com/topic/10194874/3/

You are filth and should be banned. We can see through it.
Edited by Perthite, 19 Oct 2014, 11:38 PM.
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CBA Commodities Daily Alert 17-Oct-14

Posted Image

US oil rigs fall on weaker oil prices

The total number of drill rigs deployed onshore in the US fell from
1,930 to 1,918 last week. Rigs deployed in oil plays declined from a
record high of 1,609 to 1,590, the lowest level in six weeks and the
largest fall since 22 August. Rigs deployed in gas plays increased
from 320 to 328. The fall in oil rigs reflects operators reducing drilling
in response to the fall in crude oil prices.

Base metals finished higher on demand hopes as expectations build
that China will provide stimulus to lenders and after US consumer
confidence unexpectedly lifted in October. Gold futures fell on
weaker safe-haven demand as equity markets rallied. Crude oil
benchmarks were mixed, while alumina lifted 0.4% w/w to USD356/t
(FOB Australia). Iron ore rose by 0.6% to USD80.62/t (CFR China).

Iranian president, Hassan Rouhani, has told oil minister, Bijan
Namdar Zanganeh, to try to prevent any further falls in crude oil
prices. Last week, Iran’s deputy oil minister said he was not worried
about the fall in oil prices because he believes it will pass.

US iron ore and coal producer, Cliff Natural Resources, said it
expects to take an impairment of USD6b for its iron ore and coal
assets in 3Q14 due to a downward revision of long-term pricing and
adverse conditions in seaborne iron ore and coking coal markets.

China Coal Energy’s saleable coal production fell by 5.4% y/y to
9.26Mt in September. From January to September, the company’s
saleable coal output lifted 0.6% y/y to 89.17Mt.
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Quote:
 
Iron ore falls further as Chinese buying interest stalls

Fri Oct 17, 2014 10:41am IST
By Manolo Serapio Jr

SINGAPORE, Oct 17 (Reuters) - Spot iron ore prices pulled
further away from 3-1/2-week highs as buyers from top importer
China stepped back after restocking inventories.
"Some mills did replenish some stocks after the National Day
holidays, but after that the buying interest has slowed," said
an iron ore trader in Shanghai, referring to the Oct. 1-7
holidays.
Iron ore for immediate delivery to China .IO62-CNI=SI fell
2.1 percent to $80.50 a tonne on Thursday, according to data
compiled by the Steel Index.
Iron ore, the top revenue earner at global miners Rio Tinto
and Vale, jumped 4 percent to $83.10 on
Monday, the highest since Sept. 17, in a rally spurred by a
recovery in Chinese steel futures.
The price fall since then puts the commodity back near a
five-year low of $77.50 reached just before China's National Day
break.
Shanghai rebar futures were nearly flat at 2,640
yuan ($431) a tonne by midday after touching a three-week top of
2,683 yuan on Thursday.
Some iron ore traders who have held off on offering cargoes
to the market earlier this week on hopes of keeping prices high
have resumed sales, the Shanghai-based trader said.
"They can't hold off offers for too long because they need
to clear some of their stocks," he said.
Iron ore prices have fallen 40 percent this year as big,
low-cost suppliers boosted output at a time of slower demand
growth from top buyer China.
Australian miner Fortescue Metals Group said on
Thursday that shipments for the September quarter rose 60
percent from a year ago to 41.5 million tonnes.
Fortescue has expanded rapidly to become Australia's
third-largest iron ore miner, behind Rio Tinto and BHP Billiton
, and is currently producing at a rate of 156
million tonnes a year.

Read more: http://in.reuters.com/article/2014/10/17/markets-ironore-idINL3N0SC1TC20141017
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Perthite
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An idea of the rapid deterioration....

http://www.perthnow.com.au/business/breaking-news/ausdrill-warns-of-earnings-slump/story-fnhrvfsf-1227095905209
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CBA Commodities Daily Alert 20-Oct-14

Posted Image

Peabody pushes Australian coal costs down

Peabody, the world’s largest private coal producer, sold 57Mt of coal
in the September quarter, down 9.6% relative to last year. From
January to September, the company managed to reduce its unit coal
costs marginally in the US relative to last year, and has pushed
Australian unit coal costs down 4% y/y to USD78/t. Peabody
highlighted seaborne coal markets remain challenged, with concerns
rising on Chinese coal imports. On the positive side, the company
pointed at strong coal import demand growth in India and said that
more than ~18Mt of the 27Mt of announced coking coal production
cutbacks have yet to take place.

Base metals finished mostly lower on demand concerns as markets
are expecting that China’s economy expanded at its slowest pace in
the September quarter since 2009. Brent crude oil fell on views
OPEC crude oil supply will continue unabated until the group meets
on 27 November, exacerbating current surplus concerns. Gold
futures rose on views the US Fed will delay lifting interest rates due
to the impact of a faltering global economy on the US. Iron ore rose
by 1.0% to USD81.60/t (CFR China).

Aurubis, the world’s second-largest producer of refined metal, said
copper demand has slowed in Europe and the US as buyers are in a
“wait and see mode”. The company pointed at tensions in Ukraine
and Russia and better optimisation of copper stockpiles as reasons
for the slowdown in demand.

According to Korea South-East Power (KOSEP), South Korea’s coal
consumption is expected to increase ~50% from 80Mt in 2013 to
120Mt in 2023. The company estimates coal power capacity will lift
~90% from 23.41GW in 2013 to 45GW in 2023.

According to the Japan Iron & Steel Federation, Japan’s crude steel
output fell 0.5% y/y to 9.24Mt in September.
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Perthite
19 Oct 2014, 11:21 PM
Like you... a figment of someones imagination.

Responding to you or your alterego is a waste of time.

This is BP posting and targeting me as a guest.

http://australianpropertyforum.com/topic/10194874/3/

You are filth and should be banned. We can see through it.
Instead of trying to bash guest posters maybe you could direct some of that energy at the question about market share of the minor IO players?
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CBA Commodities Daily Alert 21-Oct-14

Posted Image

China’s economy slows but beats forecast

Base metals and crude oil benchmarks finished mostly higher on
demand hopes after China’s GDP growth in the September quarter
and industrial output growth in September beat forecasts. Prices also
rose after US existing home sales in September rose to their highest
annual rate this year. Gold futures advanced on views that the US
Federal Reserve will lift interest rates later than markets expect. Gold
also rose on stronger physical demand after Switzerland’s gold
exports rose to a seven-month high in September. Iron ore rose by
0.3% to USD81.83/t (CFR China).

Freeport McMoRan, one of the world’s largest copper ore producers,
forecasts that world copper ore markets will remain balanced from
2014 to 2015 but highlighted a potential deficit forming in 2015 in the
event of unexpected disruptions to production.

Chilean iron ore miner, CAP Mineria, is now aiming to produce
18Mtpa of iron ore in 2017, two years later than previously forecast,
reflecting a response to current iron ore market conditions. Earlier
this month, the company cut its 2014 iron ore output forecast from
14Mt to 13Mt.

According to China’s National Bureau of Statistics (NBS), China’s
crude steel output lifted 3.2% y/y to 67.5Mt in September. Relative to
August, daily crude steel production rates rose by 1.3% to
2.25Mt/day. From January to September, China’s crude steel output
has lifted 2.3% y/y to 618Mt.

Anglo-African Minerals is planning to fast track its 2Mtpa Forward
Africa Resource (FAR) bauxite project in Guinea. The company hopes
to begin production at FAR by 2016, conditional on scoping and
bankable feasibility studies.
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Perthite
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Guest
22 Oct 2014, 08:33 PM
Instead of trying to bash guest posters maybe you could direct some of that energy at the question about market share of the minor IO players?
Less energy would be required to sign up and become relevant.

Feel free to join the debate in full.

I have in the past made my position clear that smaller high cost players are important to the state as they are in effect more labour intensive. This is mainly due to the lack of infrastructure which drives up their transportation costs.
Edited by Perthite, 22 Oct 2014, 09:20 PM.
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bundy
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Perthite
22 Oct 2014, 09:11 PM
Less energy would be required to sign up and become relevant.

Feel free to join the debate in full.
I couldn't agree more.
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