Commodities

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Daily iron ore price update (whatever it takes)

Iron ore prices for October 22, 2018: Spot rocket. Steel rocket. And why not. Yesterday Xi Jinping issued his “whatever it takes” moment via Bloomie: President Xi Jinping vowed “unwavering” support for non-state firms over the weekend, the country’s stock exchanges committed to help manage share-pledge risks, and the government released a plan to cut personal

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Daily iron ore price update (ease)

Iron ore price for October 19, 2018: Spot down. Paper up. Steel down. At this stage prices are so high that it’s difficult to see them going much higher. That said, I can’t get very bearish while coking coal supply is constrained despite demand that is going to weaken. Perhaps a trading range up here

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Daily iron ore price update (all good)

Iron ore prices for October 12, 2018: Spot was up. Paper and steel firm. Rebar inventories are absolutely fine, still up one million tonnes on last year: As production remains mad, via CISA for late September output at 1.98mt: Friday’s trade data was also very much in control with steel exports leveling out around 6mt.

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Macquarie: EMs still in the gun

Via the excellent Viktor Schvets at Macquarie: EMs in the crosshairs: Between war games, fake news and bonds From military exercises to trade wars, the fury is intensifying. At the same time, global liquidity is compressing while rates are rising. Growing uncertainty, contracting liquidity & rising cost of capital will continue to place non-US assets

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Commodities lifts Australia’s trade surplus

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released trade data for the month of August, with Australia’s trade surplus rising to $1,604 million in August from $1,548 million in July: Over the August quarter, Australia recorded a trade surplus of $5,271 million: In seasonally adjusted terms, exports rose by $185 million

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Daily iron ore price update (Golden Week)

Iron ore prices for September 28, 2018: Markets are closed this week in China but steel is likely to see more pressure next week: China’s environment ministry issued a stern warning on Saturday to companies across heavy industry not to flout the nation’s tough emission rules — a move seen as quashing speculation that the

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Daily iron ore price update (steely boom)

  Spot eased. Paper firmed overnight. Steel is soft but very expensive. CISA output rocketed in early September nearly 4%. It will be interesting to see inventories going forward. This could be demand brought forward for shutdowns. Steel growth worldwide is falling fast now: World crude steel production for the 64 countries reporting to the

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Daily iron ore price update (here it comes)

Iron ore prices for September 19, 2018: Spot down. Paper more. Steel up. Here it comes, via Reuters: The National Development and Reform Commission (NDRC), the top state planner in the country, said in a news briefing on Tuesday that China would ramp up investment in infrastructure, as well as in agriculture, poverty alleviation and

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Daily iron ore price update (stimulus!)

Iron ore price charts for September 14, 2018: Spot firmed and paper added more. Steel was firm. Rebar inventories are fine at 4.33mt well above last year. The ferrous market is now pricing for the property boom that has been unleashed with more infrastructure to come. Given inventories of everything are already so high I