Daily iron ore price update (deal or no deal)

Iron ore prices for January 8, 2019: Everything flat. Clyde Russell is bullish now: Commodity markets appear to have delivered their verdict on China’s plans to stimulate its economy, betting that Beijing’s boost to infrastructure spending will work. China’s central bank cut the amount of cash that banks have to hold as reserves for a


Adani delayed again by 11th hour red tape

QLD Labor is running interference for Bill Shorten: Indian energy giant Adani will miss its Christmas deadline to begin construction of its controversial $2 billion Carmichael mine after the Palaszczuk Labor government commissioned an independent review into the company’s environmental management plans – a process which is expected to take at least two months. Although Adani Mining


More on the Samarco return

Via Platts: Samarco may restart iron ore pellet production activities as early as late 2019, and operate toward an 8 million mt/year rate during 2020, to meet high global pellet demand, the company said. Samarco will continue to use wet processing via floatation of iron ore, and aims to produce the same pellet grades as


Daily iron ore price update (forecasts)

Iron ore prices for December 12, 2018 Spot stable. Paper too. Steel rebounded. Nothing burger. Westpac has some good material on next year: Three factors were behind the recovery in iron ore prices in 2018: 1) the restructuring of the Chinese steel industry and resulting lift in steel prices; 2) declining Chinese ore production due


Daily iron ore price update (convulsive)

Iron ore price charts for December 11, 2018: Spot is treading water. Paper jumped convulsively when it learned that Chinese credit is crashing. Coking coal contracts rolled forward. Steel is weak and getting weaker. Iron ore these days rises long before any actual stimulus meaning that strength is greeted with price rises and weakness with


A new Aussie GDP threat emerges

Oddly enough it’s coal, from Clyde Russell: It’s not shaping up as a merry Christmas for coal exporters to Asia as the region’s top buyers, China and India, pull back from the recent trend of strong imports. The Chinese authorities appear to be making good on a commitment to try and limit the country’s imports


Samarco restart in 2020

Via Argues: Brazil’s Samarco mine is likely to restart in early 2020, bringing a major source of high-grade iron ore back into the market, mining company Vale’s chief executive Fabio Schvartsman said today. “The worst part seems to be behind us,” Schvartsman said of the process to bring Samarco back on line after a fatal


The economic impact of falling oil

Via Capital Economics: The sharp fall in oil prices over the past month or so has led to several questions about the implications for the global economy. We’ve written lots on this subject, including how central banks might respond and why the major oil producers are now better positioned to weather a fall in prices than they were a