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Iron Ore Boom vs. Kevin Rudd's Doom; Bears got it wrong yet again.
Topic Started: 16 Aug 2013, 02:37 AM (6,286 Views)
Mike
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Iron ore boom vs. Rudd's doom

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ON the hustings and in his campaign ads, Kevin Rudd has been calling the mining boom over.

"The truth is in 2013 the China resources boom is over," the Prime Minister said on July 11. At the leaders debate on Sunday: "The truth is, with the ending of the decade-long mining boom, we face new economic challenges." At almost any media opportunity, the mantra is repeated.

But he must have forgotten to tell the Chinese -- the world's biggest buyer of mineral commodities.

Ever since returning as PM on June 26, the price of iron ore -- Australia's biggest export by a big margin -- has not looked back as Chinese steelmakers frantically restock on the expectation that while there is a slowdown in the country's infrastructure and urbanisation boom, an economic growth rate of more than 7 per cent on an already greatly enlarged economy means it still needs to suck in vast amounts of the steelmaking raw material.

Iron ore has surged by 26 per cent, or $US29.80 a tonne, to $US142.80 a tonne since Mr Rudd returned to the Lodge and began mapping a re-election strategy that in part at least, links the claimed end to the mining boom to Australia's ballooning budget deficits.

But iron ore has now moved back to five-month highs measured in US dollars. In Australian dollars, the current price of $156.27 a tonne is the best since October 2011. The local price is now up by $33 a tonne, or 28 per cent, which if sustained over a full year would add $20 billion to export revenues.

Copper and the rest of the metals complex have also moved up decisively in recent weeks, buoyed by the economic news out of China, the US and hopes of an improving Europe. Base and precious metal markets nevertheless remain volatile and well short of average prices achieved by the industry in the June half.

That has not been the case with iron ore's stellar price performance -- one achieved against a wall of naysayers who have predicted a price crash in the current second half as rising production in the Pilbara, Brazil and increasingly Africa outstrips demand.

In equity markets, the doom merchants continue to hold sway, giving Mr Rudd support on the halcyon days for iron ore being at an end. Atlas Iron is an example. The last time iron ore was trading at these levels, its share price was 75 per cent higher than yesterday's market price, $1.01.

Atlas managing director Ken Brinsden said yesterday that the company fully expected that there would be volatility in iron ore prices. "But on average, we also expect we will continue to get a very good price for our iron ore," Mr Brinsden said.

He said share prices not reflecting the current elevated iron ore price was a result of six to nine months of negativity around China's economy that had "been feeding on itself". And as for what Canberra has to say on the subject, Mr Brinsden said he had long argued that the outlook should be neither over-hyped nor understated. "The middle ground is best," he said.

Read more: http://www.theaustralian.com.au/business/mining-energy/iron-ore-boom-vs-rudds-doom/story-e6frg9df-1226698060918

What morons called the end of the mining boom, well we know one was Kevin Rudd but he gets most things wrong. We know plenty more right here on these forums, they are called bears. Why did you get it so wrong again, when plenty of us warned you it would not happen.
http://mike-globaleconomy.blogspot.com.au/
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Bardon
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Mike
16 Aug 2013, 02:37 AM
http://www.theaustralian.com.au/business/mining-energy/iron-ore-boom-vs-rudds-doom/story-e6frg9df-1226698060918

What morons called the end of the mining boom, well we know one was Kevin Rudd but he gets most things wrong. We know plenty more right here on these forums, they are called bears. Why did you get it so wrong again, when plenty of us warned you it would not happen.

There was the other one as well, M rFerguson the minister who first called it wrong twelve months ago.

He was the same one that signed the two or three pager MRT agreement with the mineral council. when they realised that they had been done over, the same guy turned around and said that "they" had misinterpreted the document!

It was hilarious watching the CEO of the Mineral s Council keeping a straight face and hiding his joy when it came to light how much they had dudded the govt, "a deal is a deal and all that" he proclaimed with a sense of happiness.

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Catweasel
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Cstweasel say a nature of a predict the hard,

even among rapscallion looking for a certainty and swimming in a sandpit,

as outlet for all its hopes, dreams a fears.

The psychology of its abuse of master proclamation,

is not about master itself,

but because mouse prefer other master.

Even though mouse have perfect opportunity,

to learn about a nature of a uncertainty.

And understanding,

that nothing stopping,

whole shebang,

off a cliff,

into toilet.
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Pig Iron
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Bogan scum

Rudd is only calling it over to try create a sense of panic. then he can claim to be able to "save" them.
I am the love child of Tony Abbott and Pauline Hanson
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Catweasel
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Pig Iron
16 Aug 2013, 11:31 AM
Rudd is only calling it over to try create a sense of panic. then he can claim to be able to "save" them.
Rapscall looking at 1 the scenario.

Or it could be another.

One the school of risk management think,

is to be a prepare for worse-case scenario.

While it not the position to get rapscalls into mini skirt and start waving a pop poms,

it more the conservative mind.

And in the some perverse,

mouse, rapscall or not,

need the benevolent master,

more than ever.

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skamy
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Catweasel
16 Aug 2013, 08:58 AM
Cstweasel say a nature of a predict the hard,

even among rapscallion looking for a certainty and swimming in a sandpit,

as outlet for all its hopes, dreams a fears.

The psychology of its abuse of master proclamation,

is not about master itself,

but because mouse prefer other master.

Even though mouse have perfect opportunity,

to learn about a nature of a uncertainty.

And understanding,

that nothing stopping,

whole shebang,

off a cliff,

into toilet.
Catweasel talk so much about about the master

But Catweasel to the average African or Indian or Iraqi or Egyptian or Pakistani, you and I are part of the master cabal.

You can never understand a the master until you understand the yourself, IMHO.

Mostly this forum is about bread the winning and home the providing,

Really very the basic human social the instinct, not really come from the master.

What is the need of Catweasel to change this

Where does that the come from in the psychology of the Mr the Catweasel?
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Catweasel
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skamy
16 Aug 2013, 12:05 PM
Catweasel talk so much about about the master

But Catweasel to the average African or Indian or Iraqi or Egyptian or Pakistani, you and I are part of the master cabal.

You can never understand a the master until you understand the yourself, IMHO.

Mostly this forum is about bread the winning and home the providing,

Really very the basic human social the instinct, not really come from the master.

What is the need of Catweasel to change this

Where does that the come from in the psychology of the Mr the Catweasel?
Catweasel not revolutionary but fascinate with social contract which influence by social the structures with impact every decision mouse make.

Psychological profile is incredibly the complex and easier to understand workings of 3D printer.

Observing behaviour and attitudes of mouse and master integral to a understand of universe.
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mel
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It's good to see you are feeling better Cat. Would you say you are:

A. purely an observer
B. a philosopher
C. a counselor psychologist or psychiatrist

feel free to stroke your chin on it for a while
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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Gazo
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So what. Price is up.

I don't employment going up, or capex. Boom is over.
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Catweasel
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mel
16 Aug 2013, 12:47 PM
It's good to see you are feeling better Cat. Would you say you are:

A. purely an observer
B. a philosopher
C. a counselor psychologist or psychiatrist

feel free to stroke your chin on it for a while
Catweasel not big believer of pigeon hole.

When it come to a invest,

Catweasel is massive the risk take.

Dive into a unknown with pleasure.

But that not recommend to mouse,

as not part of white picket paradigm.

And cause emotional disorder.

And if it observe mouse emotional reaction on mouse house,

it understand more and the more about fear and a hopes.

And a hypnotize of mouse,

continue on daily the basis,

by institutional,

and white shoes.
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