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Daily Iron Ore Price, Commodities and Precious Metals Update - September 2013
Topic Started: 2 Sep 2013, 06:00 PM (13,044 Views)
Pig Iron
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Bogan scum

doubleview
29 Sep 2013, 08:00 PM
Fuck your delusional has no bounds !!

As far as my PPOR GOES it looks like I got out just before or right on the peak numb nuts !!

Additionally your a fucken liar you know what my call on iron ore is & I have been spot on thus far !



WTF You are mentally sick man go and see a doc
you got out just in time for property and iron to boom.

the only way you could have fucked up more is to have piled your money into gold.
I am the love child of Tony Abbott and Pauline Hanson
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doubleview
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Pig Iron
29 Sep 2013, 08:29 PM
you got out just in time for property and iron to boom.

the only way you could have fucked up more is to have piled your money into gold.
What ?

Fuck your delusional!

Iron ore has been good to me, , I have made a motza on iron ore stock dickhead!!

all transparent in my posts probably back in may / june

Look it up in my posts if you like!

Once again you look like a cock head!
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Pig Iron
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Bogan scum

doubleview
29 Sep 2013, 08:37 PM
What ?

Fuck your delusional!

Iron ore has been good to me, , I have made a motza on iron ore stock dickhead!!

all transparent in my posts probably back in may / june

Look it up in my posts if you like!

Once again you look like a cock head!
careful you sound a lot like crazy ted, claiming to be able to pick peaks and talking about posts you never link to.

do you also post from a shed on your old smart phone?
I am the love child of Tony Abbott and Pauline Hanson
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doubleview
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Pig Iron
29 Sep 2013, 09:58 PM
careful you sound a lot like crazy ted, claiming to be able to pick peaks and talking about posts you never link to.

do you also post from a shed on your old smart phone?
Ha ha dick head !No I post from a cupboard !

http://australianpropertyforum.com/topic/9836474/7/#new

bc iron @ the time was $3.28 as of today is $4.44 =%35 gain

Mt gibson @ the time was $0.5 as of today is $0.75 =%50 gain

Fortescue @ the time was $3.58 as of today is $4.94 =%38 gain

Your looking at %40-50 gains dick head !!

Furthermore I wasn't claiming to pick peaks as I offer an explanation in the post of why I was buying.

All there for ya piggy!! Fully transparent and once again you thinking you caught me out and make your self look like an absolute cock head.



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Perthite
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Boom indeed.

http://www.ferret.com.au/articles/news/Mining-unemployment-jumps-n2508758

Worth a read.
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Pig Iron
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Bogan scum

doubleview
29 Sep 2013, 10:24 PM
Ha ha dick head !No I post from a cupboard !

http://australianpropertyforum.com/topic/9836474/7/#new

bc iron @ the time was $3.28 as of today is $4.44 =%35 gain

Mt gibson @ the time was $0.5 as of today is $0.75 =%50 gain

Fortescue @ the time was $3.58 as of today is $4.94 =%38 gain

Your looking at %40-50 gains dick head !!

Furthermore I wasn't claiming to pick peaks as I offer an explanation in the post of why I was buying.

All there for ya piggy!! Fully transparent and once again you thinking you caught me out and make your self look like an absolute cock head.


i never said you didnt fuckhead. all this effort debunking your own accusations.
the fact is you claim to have bailed out of perth claiming it will crash, only to watch it boom.
I am the love child of Tony Abbott and Pauline Hanson
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Admin
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CBA Commodities Daily Alert 27-September-13

Posted Image

India’s 30% iron ore export duty may stay

India’s finance minister said there is no case to cut the 30% export
duty on iron ore exports, reversing an earlier stance. The measure will
likely keep exports lower and increase supply for local steel mills.

Base metals rose on demand hopes after earnings rose by 12.8% y/y
from January to August at Chinese industrial companies. Gold
futures advanced after the President of Federal Reserve Bank of
Chicago, Charles Evans, said more signs of US economic strength
are needed before the US Federal Reserve reduces stimulus. US WTI
prices fell on concerns that stalled budget talks in the US may
dampen growth and crude oil demand. Iron ore declined 1.4% to
USD131.90/t (CFR China). China’s markets will remain closed from 1
October to 7 October for National Day holidays.

South African platinum miners have started striking at Anglo
American Platinum operations following the company’s
announcement that it will cut 3,300 jobs in South Africa.

PT Timah, Indonesia’s largest tin producer, estimates that tin exports
will drop more than 50% m/m to 3kt in September as Indonesia
forces tin producers to trade the metal locally before exporting.

The total number of drill rigs deployed onshore in the US fell from
1,761 to 1,744 last week. Rigs deployed in oil plays fell from 1,369 to
1,362, while rigs deployed in gas plays fell from 386 to 376.

Anglo American continues to look for a partner to help develop its
26.5Mtpa Minas-Rio iron ore project, but believes the process may
take time due to the project’s delays and cost blow-outs.

India’s coal ministry has said it is fast-tracking three critical rail links
to transport 300Mt of thermal coal to address shortages.
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Admin
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Quote:
 
China's CITIC says close to Australia iron ore production start

* CITIC says project moving into production phase
* Development is billions of dollars over budget, 4 yrs behind schedule
* Has been marred by legal disputes

SYDNEY, Sept 30 (Reuters) - China's CITIC Pacific said it was moving into the initial production phase at its $8 billion iron ore project in Australia, following years of delays at one of China's costliest offshore mining developments.

Already some four years behind schedule and billions of dollars over budget, commissioning of the first of the project's two production lines has been going on since July, CITIC said in an e-mailed statement.

"We are now moving into the production stage," it said.

The project, one of the largest of its kind undertaken by a Chinese entity outside China, has been marred by legal disputes. It has yet to generate any returns six years after CITIC Pacific bought the rights from Australian tycoon Clive Palmer, prompting Beijing to take a much more cautious approach to approving foreign mining investments.

CITIC last month said the focus over the next six months would be to ensure the stable running of the first production line and ramping it up to full capacity.

CITIC Pacific, controlled by state-owned CITIC Group , had hoped to begin exporting iron ore in May. But problems at its grinding mill, a component in the production of the type of magnetite found in the far west Australian deposits mined by the company, forced it to delay.

The development aims to produce up to 24 million tonnes of iron ore concentrate annually. The material will be used by CITIC Pacific's own steel plants and also sold to other steel producers in China.

The cost of the project has swelled to almost $8 billion from $2.5 billion. (Reporting by James Regan; Editing by Joseph Radford)

Read more: http://www.sharenet.co.za/news/Chinas_CITIC_says_close_to_Australia_iron_ore_production_start/4589666767c75b7ca78db724dbc55c4b
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vic
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Macquarie Bank have put out this analysis into iron ore and they reckon it's all rosy.....

Quote:
 
We expect $100/t plus iron ore prices into the medium term

We have undertaken a detailed run-through of the iron ore demand and supply dynamics, focusing on a bottom-up approach to forecasting steel demand in China and a thorough investigation of inflation, expansions and depletions in both the Chinese domestic iron ore industry and the seaborne market. We conclude that iron ore prices will remain above $115/t over the next two years and will remain above $100/t out to 2020, based on an assessment of the competitive cost curve structure. As such, we have raised our long-run iron ore forecast to $90/t CFR China (62% basis, real $2013) from $80/t previously.

Taking a detailed look at the Chinese domestic ore curve

This work incorporates a detailed study of the Chinese domestic iron ore industry, focusing on cost inflation, capacity expansion and depletion. Based on our projections of the Chinese and seaborne supply curve, we find that nearly 40% of Chinese capacity, largely in the hands of private operators, will be uneconomic by 2018 under our base case forecasts. We believe the Chinese iron ore industry will behave in an economically rational way, as the financial and political incentives to support a loss making sector are no longer present.

The decision-making window closes quickly in a displacement cycle

Our project by project analysis of the potential seaborne expansions finds that half of the proposed projects will require a long-run price of over $100/t to generate a decent IRR and subsequently, depending on their timing to market, many look at risk. Meanwhile, we feel there is just a two-year decision making (and funding) window left for proposed assets before the shadow cast from Vale‟s 90mtpa S11D project prevents further approvals. As a result, we expect base case seaborne supply additions of 380mt through 2020, well below market expectations, as many prospective additions are not progressed, assuming rational decision making.

Moving into an environment of lower volatility

One of the key takeaways from our analysis is that the expected range of iron ore prices within any given year is set to be substantially reduced. With a 200mtpa annualised swing from peak to trough iron ore demand within any given year being common, the steep gradient of the cost curve drives “efficient volatility”, through the need to incentivise and displace marginal tonnes at various points in the cycle. Into the medium term, we see the upper end of the curve flattening, resulting in lower levels of volatility over time and as such, there should be increasing confidence in terms of the range iron ore will trade between in any given year. Certainly, potential for overshoot and undershoot will remain; however, the lower volatility could potentially be the catalyst for positive equity rerating. We note also that $85-90/t represents a floor in cyclical price swings throughout the forecast period. This scenario plays into the hands of the major producers, whose top tier assets allow them to avoid the competitive scrap their smaller peers will be engaged in, while having greater confidence around medium-term investment plans.
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India to keep iron ore export duty at 30 pct - Chidambaram

By Himank Sharma and Krishna N Das
MUMBAI/NEW DELHI | Fri Sep 27, 2013 6:50pm IST

(Reuters) - Finance minister said on Friday there was no case to roll back the 30 percent duty on iron ore exports, a reversal of the government's earlier stance that could keep shipments lower but help availability for local steel mills.

Prime Minister Manmohan Singh and Finance Minister P. Chidambaram had earlier called for the need to find ways to revive iron ore exports, which have plunged over the past two years due to the high duty and a ban on mining in key states.

But speaking at a meeting of exporters in Mumbai on Friday, Chidambaram said there was a need to maintain the current duty but did not elaborate. In response to a question on the duty, he said there was "no case to roll back".

"If the finance minister is saying there is no need to cut the duty, I'm sure he has his reasons," said Basant Poddar, senior vice president of the Federation of Indian Mineral Industries (FIMI). "But we're disappointed and exports might hit single digits (millions of tonnes)."

India was once the third-largest exporter of the steel making raw material, but shipments slumped more than 80 percent in three years to hit 18 million tonnes in the last fiscal year.

That prompted Singh to say in July the government was trying to remove "constraints in the export of iron and other ores". The drop in shipments gave Australia and Brazil, the world's top two iron ore exporters, more business in No 1 buyer China.

The mines ministry and the commerce ministry had recommended cutting the duty to 20 percent to revive shipments and help narrow the country's current account deficit, although the steel ministry wanted to conserve iron ore for local mills.

But as the rupee has depreciated over the past few months, Commerce Minister Anand Sharma said earlier this month that most of India's exports were becoming competitive even with duties.

The steel ministry and steel companies such as JSW Steel Ltd (JSTL.NS) have opposed any duty reduction, saying it could lead to a shortage of iron ore for making steel.

Capacity utilisation at Indian steel mills hit an all-time low of 82 percent in the last fiscal year due to a shortage of iron ore, according to lobby group ASSOCHAM.

With exports in major producing states Goa and Karnataka still banned in a crackdown on illegal mining, volumes from India could remain well below the record high of more than 117 million tonnes seen in 2009-2010.

The Supreme Court is hearing an appeal to reopen mining in Goa, India's top iron ore exporter that shipped more than 43 million tonnes in 2011-12 before mining and exports were banned in September last year.

Though the top court has allowed the reopening of most mines in Karnataka, delay in getting various government clearances has meant that only a handful have restarted.

"We miners are grappling with so many issues," said FIMI's Poddar, whose four mines in Karnataka are still waiting to reopen.

Read more: http://in.reuters.com/article/2013/09/27/india-ironorre-chidambaram-idINDEE98Q08Z20130927
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