Iron ore price

Iron ore price charts for November 3, 2016:   Tianjin benchmark rose 0.2% to $64.50 Paper went nuts again overnight, hitting to new highs.

Goldman doesn’t say so exactly but it sure does hint at it: A perfect storm of supply interruptions, but rally too much too fast YTD thermal coal prices for both QHD and Newcastle posted significant rallies of 80% and 100%, respectively.

Cross-posted from The Conversation: It wouldn’t be too unkind to suggest that Western Australia is not considered as the national benchmark of sophisticated public policy.

Big Iron is hanging on today with BHP 0.6%, RIO -0.2%, FMG -0.6% after yesterday’s high quality shellacking and WHC -0.2%.

It’s time for more big mining sedition: The mining industry has evoked the memory of crushing campaigns against Labor’s mining and carbon taxes in a bid to kill off support for a $5-a-tonne levy on BHP and Rio Tinto in Western Australia.

Iron ore charts for November 10, 2016: Tianjin benchmark was unchanged.

Big Iron is mixed today as risk comes off.

From Goldman: Over the past three weeks, iron ore in the Chinese onshore market experienced an impressive 22% price gain and outperformed other commodities (Exhibit 2).

Iron ore price charts for November 10, 2016: Boom!

The China steel PMI for October is out as well and is solid at 50.7.

From Credit Suisse: ■ Site visit: Las week we attended FMG’s annual site visit.

Iron ore price charts for October 31, 2016: The spot rip continues with Tianjin benchmark up 1.1% to $63.80 though it is now lagging SGX and the DCE paper breakout.

Big Iron is off again today as Dalian opens up a few points.

Macquarie has upgraded its estimated for coal today:  Since China’s NDRC announced a relaxation of coal production controls at almost 800 mines at the end of September, theoretically increasing effective production capacity by ~300mtpa and, hence, 4Q production by ~75mt, coal prices have accelerated higher.

From the ABC: Mr Gylls has told the state conference it will also be the engine for jobs growth.

Iron ore charts for October 28, 2016: Tianjin benchmark rose 1.3% to $63.10.

Big Iron is running again today as Dalian opens up a little with BHP -1%, RIO flat, FMG 2.3%.

From the ABC: The Western Australian Government could lose $120 million in revenue if the major miners challenge a proposed $5-a-tonne fee on iron ore exports in court.

Iron ore price charts for October 27, 2016:   Tianjin benchmark fell 0.6% to $62.30.

From Asia Times: China, the world’s largest coal producer, is stuck between a rock and a hard place with shortages of the fuel exacerbated by the government’s aggressive goal to cut excess capacity.

Big Iron is up again as Dalian holds overnight gains.

Iron ore charts for October 26, 2016: Holy cow, Batman!