Iron ore price

9

Chinese kick Fortescue’s tires

From the AFR: China’s Hebei Iron & Steel Group and Tewoo Group have approached Fortescue Metals Group about acquiring a stake in the iron ore producer’s infrastructure assets, people with knowledge of the matter said. The state-owned Chinese firms are separately talking to Fortescue about investing in the infrastructure serving its operations in Western Australia’s

4

MSM pump primes RIO dividend

From the AFR: When Rio reports this week, analysts’ consensus is for underlying earnings to shrink to $US2.4 billion, from $US5.1 billion in the year-earlier period. …Despite the cash flow squeeze, Deutsche mining analyst Paul Young says savings from expected cuts to capital spend, from an already reduced target of $US7bn, and continuing cost cutting “should underpin another buyback in February 2016″. Rio

12

Daily iron ore price update (steel meltdown)

Here are the iron ore charts for July 31, 2015: As well as Qingdao falls, Tianjin benchmark iron ore fell 3% to $52.90. Unusually, this was despite only minor moves falls in Dalian and rises in Singapore. Indeed, Dalian rallied Friday night to 370 and is virtually unchanged from Thursday. The rebar average bounce continues as CISA

6

Is iron ore in a “bull market”

Some days financial media is maddeningly daft, at the AFR: Call it the world’s most unlikely bull market. Iron ore advanced for a third day, taking gains to 25 per cent from a six-year low even as the world’s top shipbroker predicted renewed losses. Ore with 62 per cent content delivered to Qingdao climbed 4.6 per cent

6

BHP, RIO and FMG surge as futures fly

Big iron is enjoying some respite today with BHP up 2.3%, RIO up 1.3% and FMG up 6%: Idiocy spreads are still closing: Juniors are still busted with AGO unable to reclaim 5 cents: The performance is pretty disappointing when you consider Dalian is flying again up another 6 points from this morning to 369. We’ll

3

Why is iron ore rising?

From Bloomie: Recent weakness seen in Australian shipments is only a temporary lull on the way to further expansion, analyst Christian Lelong said in a note received on Tuesday. When operations among major Australian producers are back at full strength, and a new mine at Roy Hill opens in a couple of months, the downward

3

Daily iron ore price update (bounce)

Here are the iron ore charts for July 27, 2015: Spot up strongly with Tianjin benchmark up 1.4% to $51.40 a tonne. Paper markets too. Dalian was unchanged overnight. Rebar average is off the canvass. The first Valemax disgorged its tonnages in China. Amid the Shanghai crash, what gives? Andy Home captures sentiment: Chinese overproduction and

21

Inside Fortescue high-grading

From Deutsche: We retain our SELL on valuation (A$1.44/sh) and high debt levels. The dramatic drop in Life of Mine (LOM) strip ratios continues. Average 20 year LOM strip ratios are now expected to be 2.3:1 at the Chichester hub and 1.7:1 at Solomon. This has again been achieved through “blending and beneficiation” which has