Commodities

From Reuters: Chinese iron ore futures dived nearly 5 percent on Monday as investors are worried that domestic banks could further cut credit lines to the sector to minimize default risks amid a slowing economy.

Here are the iron ore charts for 25the April, 2014: These charts consolidate Thursday and Friday moves.

From Business Spectator this morning: Coking coal prices have slumped to six-year lows, many Australian mines are not making money and the industry is set to close more of the mines that produce the nation’s second most valuable export.

From Westpac’s Robert Rennie: Last week’s iron ore quarterly production data from Australia’s ‘big three’ miners proved to be something of a mixed affair.

Here’s a timely report by Goldman Sachs supporting my spray at iron ore delusion this morning: Time to digest an investment binge in excess of US$2 trillion We have long argued that commodity supply cycles can be divided into investment and exploitation phases that create a full 20-30 year supply cycle.

Delusion appears to have seized iron ore markets.

The entrepreneur as Nietzschean ubermensch is one of the more unfortunate features of contemporary business journalism.

Here are the iron ore price charts for April 23, 2014:   More paper market weakness though tailing off.

From the ASX, Padbury Mining has confirmed that Roland Bleyer  is the mysterious private equity player behind the $6.4 billion deal to resuscitate the Oakajee iron ore project.

Sorry this is late today.

From the World Steel Association comes strong March production figures: World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 141 million tonnes (Mt) in March 2014, an increase of 2.7% compared to March 2013.

From Platts: Chinese iron ore importers on Monday denied they were under pressure to sell their port stocks so that they repay their debts to the country’s banks, refuting recent local media reports.

From The Australian over the long weekend: SYDNEY entrepreneur Roland Frank Bleyer first came to ­national attention in 1985 when TV host Mike Willesee grilled him on air over a business that was using animal foetal cells to treat children with Down syndrome.

Here are the iron ore charts for April 21, 2014:   The top is in.

Here are the iron ore charts for April 16, 2014: And so the paper market weakness rolls on.

Here are the iron ore price charts for April 15, 2014: Paper markets continued their stall with rebar futures flat.

Rio’s first quarter production report was out earlier today and was a fizzer: Rio Tinto chief executive Sam Walsh said “Rio Tinto has started the year with a series of performance records as we continue to drive productivity gains across our operations.

From the AFR: The mining junior that claimed to have sourced $6 billion worth of funding from a mystery backer has broken its promise to reveal full details of the money this morning.

Here are the iron ore charts for April 14, 2014: Iron ore paper market softness continues.

Here’s a remarkable chart from Deutsche showing how Australia captured by far the largest share all of the China boom upside for iron ore: One advantage in being a quasi-banana republic is that there are relatively fewer impediments to swift development.

Late Friday news broke that: Investors have shown interest in a highly unusual $6 billion equity deal this morning that is being spruiked by junior miner Padbury Mining.

From India’s Business Standard: Iron ore exports from India are likely to exceed 25 million tonnes in 2014-15, a growth of over 60% compared to last year.

Here are the iron ore price charts for April 11, 2014: Not much fun in paper markets with rebar futures down as well.