Commodities

1

Daily iron ore price update (she’s gunna break)

Iron ore prices for November 13, 2018: Spot fell. Paper too. Steel held up. Late October CISA steel output came off sharply as it should with falling seasonal demand. Surely she’s going to break here. Demand is waning with questions over Chinese stimulus. Supply issues in Peru, Brazil and Pilbara are resolved. Mills are destocking

2

Daily iron ore price update (not obvious)

Iron ore price charts for November 9, 2018: Spot jumped. Paper fell. Steel firmed. BHP is back: “Rail operations recommenced last night with additional controls in place to ensure safe operations.”  A regulatory investigation is ongoing, and controls on board the trains have been risk assessed. The investigation will attempt to understand what happened after

1

Daily iron ore price update (ghost train)

Iron ore prices for November 5, 2018: Spot jumped. Paper too. Because this: A train loaded with iron ore and operated by BHP ran away without a driver for 57 miles (92km) before being forcibly derailed, the company and Australian authorities have said. On Monday, the world’s biggest miner suspended all Western Australian iron ore rail operations while

24

How has the US smoothly shut 1000% more coal power than Straya?

This might be hard for you to believe. As we know, President Donald Trump does not believe in climate change. Indeed, he professes a love for coal and delivers policy in support of it. The US has trashed multilateral climate change agreements over and again while Australia has supported them. To the Fake Left the

16

As BHP hoses cash to foreigners, do recall it’s your kid’s dough

UBS wraps it up nicely for BHP: BHP has today announced that it will return the full US$10.4bn net proceeds from shale to shareholders almost immediately through a combination of an off-market buyback in Nov/Dec 18 (US$5.2bn) and a special dividend of US$5.2bn (~US$1.01ps) payable in January 2019. Further returns expected at the half year

7

Adani mini-me revs up

Good luck, via the AFR: Indian energy giant Adani is weeks away from pulling the trigger on its controversial Carmichael mine in Central Queensland after scaling back its size and scope to convince banks to finance the project. While many industry experts doubted the economics of the original $16.5 billion Carmichael project – which planned

9

China’s scraptastrophe builds

Bloomie has a little coverage the Chinese steel scraptastrophe today: With tighter emission limits, improved furnace technology and output curbs, mills are using more scrap than ever before, according to Goh Kian Guan, chief investment officer at recycler Chiho Environmental Group Ltd. If a steelmaker is causing too much pollution, “there’ll be a chance they

4

Daily iron ore price update (boomchakalaka)

Iron ore prices for October 26, 2018: Spot up. Paper up more. Steel up. There’s no downside here. Steel inventories are drawing despite massive output. Moderate stimulus is underway and it’s going to turn aggressive as tariffs weigh on industrial output. Xi Jinping has promised MOAR. Coking coal supply is squeezed. It’s boom chakalaka!

3

Daily iron ore price update (whatever it takes)

Iron ore prices for October 22, 2018: Spot rocket. Steel rocket. And why not. Yesterday Xi Jinping issued his “whatever it takes” moment via Bloomie: President Xi Jinping vowed “unwavering” support for non-state firms over the weekend, the country’s stock exchanges committed to help manage share-pledge risks, and the government released a plan to cut personal