Iron ore price


Fortescue’s stunning performance continues

From FMG’s Q2 production report: Fortescue’s rolling twelve month total recordable injury frequency rate (TRIFR) was 4.3 at the end of the June 2016 quarter, a 15 per cent reduction over the prior financial year. This reduction is an important milestone on the journey towards zero injuries.  Mining, processing, rail and shipping continued to perform


Daily iron ore price update (more drivel)

Iron ore charts for July 25, 2015: Tianjin benchmark barely budged up 0.2% to $55.80. Paper was flat overnight after yesterday’s bounce. Rebar average fell to new lows. Reuters has texture: Chinese steel futures edged higher on Monday on deepening cuts in output in a key industrial region, although cooling demand due to flooding in some


Dalian dills at it again as big iron sinks

Dalian opened this morning and immediately rocketed 3% presumably on the back of the G20 nothing. It’s since deflating. I’ll simply make the observation that although measures to curb speculation using the Dalian bourse have been very successful in terms of falling volumes, the price action is still much more volatile over short time frames


Doombull fixes Arrium just like the Budget

From Malcolm Turnbull: The Turnbull Government is delivering on its election commitment to support South Australia’s steel sector and workers at Arrium. The Export Finance and Insurance Corporation will provide a loan under the National Interest Account of $49.2 million for new machinery at the Iron Knob and Iron Baron mines. This will enable Arrium’s


Global lenders balk at Arrium pump and dump

From Fairfax comes a delay to the loan designed to save Arrium: The syndicate’s concerns centre on ensuring EFIC’s loan is only secured over Arrium’s Australian mining assets and not its other assets which includes a port, steel-making operations, and its successful Moly-Cop grinding balls business. “The lenders have made their position known – while some of the Australian trading banks


World steel output stops falling!

From the World Steel Association: World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 136 million tonnes (Mt) in June 2016, the same figure as June 2015. World crude steel production in the first six months of 2016 was 794.8 Mt, a decrease of -1.9% compared to the


Big iron ore bubble pops some more

The popping sound is growing louder for the iron ore bubble as Dalian opens under pressure again and BHP falls -4%, RIO -2.4% and FMG -1.7%: The last is pretty stupid given 58% iron ore is falling even faster than benchmark with the discount now at -16.8%: The idiocy spread is at another new level of


Delusional dirt dominates ASX

Dirt delusions continue today with miners outperforming underlying commodities as BHP falls -o.7% but RIO is up 0.4% and FMG 0.5% despite Dalian suggesting another large fall for iron ore today: The Fortescue bubble is bigger today as the discount for 58% iron ore rose to -14.5% but shares are holding up: And the idiocy


That popping sound you hear is the iron ore bubble

Big iron is down today as Dalian slides another one percent at the open with BHP -0.7%, RIO -0.9% and FMG -3%: FMG can fall right down $3.50 before threatening its uptrend: The idiocy spread has also bottomed: And its spread to 58% iron ore looks to have peaked. The 58% discount is itself down to