Commodities

0

Coking coal hit again

Courtesy of ANZ: Physical iron ore prices were unchanged at USD116.6. Talks of steel mills in China replenishing stocks supported the iron ore market the last couple of days, but weakness in the iron ore swaps (IOS) markets overnight suggests it could have been a false start. Front month Jun13 IOS contract declined USD3.83/t to

0

Coking coal slides on

  From the ANZ: Iron ore markets rebounded, up 1.4% to USD111.9. China’s HSBC PMI fell to 49.2 yesterday, contradicting the official PMI May figure of 50.8 released at the weekend. But optimism prevailed, with Oct13 SHFE rebar futures ending the session 0.8% higher to RMB3,459/t, supporting front-month iron ore swap (IOS) and physical iron ore

2

More on weak iron ore

From ANZ: Iron ore prices plunged another 4% to USD112.9/t. Iron ore prices are 29% lower than the most recent high in February and are at a seven and a half month low. FOB Australian coking coal prices also declined to USD140.35/t on bearish sentiment. A 1.3% decline in the most active Shanghai Oct rebar

1

Coking coal hits 3 year low

From ANZ: Iron ore prices ended the week with a 5% drop, the sharpest fall since mid-March when China’s growth expectations for this year were reduced. Iron ore prices are now sitting around 6-month lows and remain under pressure from the weakness in Chinese steel prices. Coking coal prices also posted the 4th consecutive week

1

Daily iron ore price update

Find below the iron ore price table for May 17, 2013: At $15, the 12 month swap to spot spread has returned to historically consistent dimensions for this price range. The spread to rebar remains very wide. So, either both iron ore prices keep falling or rebar keeps rising if the reversion to mean is

3

Daily iron ore price update

Find below the iron ore price table for May 13, 2013: Rebar futures were up slightly. Chinese port stocks edged up again last week to 75.6 million tonnes. Indian source stocks rose again also, up to 18 million tonnes. Whatever the cause, some Indian iron ore appears to be seeping back into the market.