Iron ore price

Big Iron is consolidating after yesterday’s breakout.

Westpac thinks not: “This time round the volume is nowhere near the kind of levels driving the price last time,” says Robert Rennie, chief currency strategist at Westpac.

From Macquarie: Detailed Chinese trade data for September once again illustrates the dichotomy between the thermal and met coal markets when it comes to seaborne supply flexibility.

Iron ore charts for October 25, 2017: Tianjin benchmark rocketed 5% to $61.60.

Dalian is open and immediately up another 1%.

Investors of Steel World are troubled by the recent volatility & lift in the prices of raw materials.

Iron ore price update for October 24, 2016: Do not adjust your TV set.

From The West Australian: Anyone who believes that Brendon Grylls’ $5-a-tonne iron ore tax is never going to happen needs to ask themselves whether the above scenario is completely unbelievable.

You’ve got to love the way the national conversation transpires around resources some days.

Iron ore price for October 21, 2015: Tianjin benchmark was unchanged at $58.40.

The yuan is sinking to new lows again today as the US dollar charges on: Nobody cares for now with sentiment for the inflation trade still high.

Reuters is reporting some strange comments from our Nev: Skyrocketing prices for coal used in steelmaking could deliver higher profits to Australian iron ore miner Fortescue Metals Group, its chief executive officer said on Thursday.

Some good news here, from World Steel: World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 132.9 million tonnes (Mt) in September 2016, 2.0% up on September 2015.

Iron ore charts for October 20, 2016: Tianjin benchmark added 0.7% to $58.40.

No doubt about the shift in RIO strategy: Rio Tinto chief executive J-S Jacques said “We have delivered strong quarterly production, underpinned by improving operational performance across our Tier 1 portfolio.

In the bullish corner, we have Macquarie Bank: The global IP recovery is continuing post its December 2015 nadir of +0.4% YoY, with the latest reading being +2.0% YoY in August 2016.

Iron ore charts for October 19, 2016: Tianjin benchmark was unchanged at $58.

From the alleged Big Tax Dodger: BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “Full year production and unit cost guidance remains unchanged.

Iron ore charts for October 18, 2016         Do not adjust your television sets.