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Commodities
RIO again shoved to the brink
It’s teetering. It’s tottering. But has not yet fallen. RIO has been pushed the brink of its spectacularly bearish chart again today, down 2% to $51: That bearish descending triangle is enormous and the $50 range has been a significant support for nearly ten years (GFC excepted).
David Llewellyn-Smith
9 years ago
6
The iron ore market share losers
From Mac Bank: Iron ore import volumes had already been released with preliminary trade data earlier in the month, but the full release gave an indication of partner countries.
David Llewellyn-Smith
9 years ago
1
Fortescue runs hard with high-grading
FMG’s quarterly production report is out: A few points.
David Llewellyn-Smith
9 years ago
16
Farewell commodity super cycle
Here is the Thompson/Jeffries CRB index (of commodities including energy, softs, metals): The dream is over. We are now back at 2003 levels and very likely to keep falling. In technical terms the chart exhibits an enormous bearish descending triangle on the verge of breakdown (like so many of the component parts).
David Llewellyn-Smith
9 years ago
10
Caterpillar crash deepens
Courtesy of Zero Hedge and from Caterpillar’s earnings release: Super cycle going super bust!
David Llewellyn-Smith
9 years ago
5
Global steel output falls for sixth month
From the World Steel Association: World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 136 million tonnes (Mt) in June 2015, a -2.4% decrease compared to June 2014.
David Llewellyn-Smith
9 years ago
2
Daily iron ore price update (big iron bust)
Here are the iron ore charts for July 22, 2015: Qingdao eased but Tianjin benchmark was smashed 2.8% to $50.70.
David Llewellyn-Smith
9 years ago
6
Daily LNG price update (smash)
David Llewellyn-Smith
9 years ago
2
Big iron fades with futures
Big iron ore is taking it in the team today as the iron ore bounce looks very thin.
David Llewellyn-Smith
9 years ago
8
Mac Bank: China set to slash steel output
From Mac Bank: Steel production cuts have accelerated in China – in the first ten days of July,CISA mill production was at only 622mtpa, down by 6.1% YoY – the largestYoY drop of the ten-day series since mid-February.
David Llewellyn-Smith
9 years ago
10
BHP pukes ore
BHP has released its year-end production report: Group production(1) increased by 9% for the 2015 financial year.
David Llewellyn-Smith
9 years ago
8
Mad Adam: Buy miners
David Llewellyn-Smith
9 years ago
6
Daily iron ore price update (Kumba crunch)
Here are the iron ore price charts for July 21, 2015: The spot rally flamed out in Qingdao but rose a little further in Tianjin to $52.10.
David Llewellyn-Smith
9 years ago
2
Daily LNG price update (shale shaker)
Brent oil ran higher overnight to $57.17 largely in response to a big US dollar sell off.
David Llewellyn-Smith
9 years ago
5
Big iron sells as future flame out
David Llewellyn-Smith
9 years ago
Goldman warns on iron ore
From Bloomie: *IRON ORE SEEN DROPPING EVERY QUARTER THRU 2Q 2016, GOLDMAN SAYS Prices seen at $49/ton in Q3 2015, $48 in Q4, $46 in Q1 2016 and $44 in Q2 2016, bank says in report.
David Llewellyn-Smith
9 years ago
6
Atlas regrets (updated)
From The Australian comes Atlas regrets: The Australian understands that Atlas had completed documentation for a “company-transforming transaction” with one of three so-called strategic parties with which it was in discussions, but the deal went unsigned after iron ore price posted its biggest single-day fall to its lowest level in more than six years.
David Llewellyn-Smith
9 years ago
8
Daily iron ore price update (rocket)
Here are the iron ore charts for July 20, 2015: Spot gyrations have thrown up a big rally with Tianjin up 3.8% to $51.90.
David Llewellyn-Smith
9 years ago
19
Daily LNG price update (oil smash)
Brent can’t catch a break now down again overnight to $56.52.
David Llewellyn-Smith
9 years ago
86 million dumb dollars thrown at Atlas
The dreadful Atlas raising is complete: So instos coughed up…wait for it…$12 million.
David Llewellyn-Smith
9 years ago
20
Big iron holds as futures rally
Big iron ore is holding up today with RIO up half a percent, BHP down 1% (on oil) and FMG flat: Idiocy spreads are now closing again: And juniors dying: Dalian is up 6 points today at 376 as the iron ore restock rolls on.
David Llewellyn-Smith
9 years ago
10
Daily iron ore price update (out of control)
Here are the iron ore charts for July 17, 2015: No update for spot or port stocks.
David Llewellyn-Smith
9 years ago
4
Big iron fades as futures dither
Big iron ore virtually unchanged today despite strong trade in London.
David Llewellyn-Smith
9 years ago
1
Daily LNG price update (Iranian flows)
Brent oil remains under pressure falling to $57.05 as I write.
David Llewellyn-Smith
9 years ago
1
Big iron holds up with futures
BHP, RIO and FMG are all manfully holding up today despite the market-shattering news that RIO is going to have to ship 50 million tonnes more iron ore over the second half than it did the first to reach its volume targets.
David Llewellyn-Smith
9 years ago
3
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