Commodities

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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

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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.

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The future of coal demand

By Leith van Onselen The Economist Intelligence Unit (EIU) has released a special report, available for free download after registration, entitled: “Rock Steady: A Special Report on Coal Demand”, which provides a fairly benign outlook for Australian coal exports on the back of rising Asian demand (summary video above). According to the EIU, global coal

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Heat on Rio to can ore expansion

From the AFR comes news that London fund managers are pressuring Rio: The so-called “360” project entails the approval of up to $US5 billion of spending on new mines needed to match port and rail capacity improvements that have already been approved. It would lift Rio’s annual production by 70 million tonnes from the 290 million tonne capacity

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Coking coal contracts cut

From ANZ: Bulk commodities firmed. The spot iron ore market was supported by firming China steel prices. In coking coal, BHP settled June contract prices for premium hard coking coal at around USD154-157/t FOB Australia. This is consistent with our forecasts of USD155/t for the second quarter, with a cautious China demand outlook dictating sentiment.

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Iron ore bears battle it out

The Pascometer seeks out a cheap headline today with some late-to-the-party megabearishness on iron ore: The more bearish iron ore analysts have another voice in their chorus warning about price falls – the China Iron and Steel Association. If they’re right, there are ramifications for the federal budget, as well as the viability of some

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Daily iron ore price update

Find below the iron ore price table for April 26, 2103: Historic spreads between between iron ore and its sundry prices suggest a spot price in the mid to high $120s. That’s maybe where we are going, though there’s a possible head and shoulders pattern forming but again I wouldn’t get too bearish unless swaps