Iron ore price

Here are the iron ore charts for February 29, 2016: Tianjin benchmark spot fell 0.2% to $48.90.

It’s BTFD day, whatever it is!

Here it is in black and white (and green) from CBA: The measures have so far proven to be most effective in tier 1 cities, raising concerns that additional support measures may result in a housing bubble in tier 1 cities.

Here are the iron ore charts for February 28, 2015: Tianjin spot down 0.4% at $US49.

The share market is one nervous Nelly again today ignoring positive overnight leads as banks can’t catch a  bid.

Here are the iron ore price charts for February 25, 2016: Spot fell sharply with Tianjin benchmark down 2% to $49.20.

It’s another tough day for shares despite the overnight rally in the US as banks and miners take heat.

I’ve got to say that the excellence of Fortescue execution is now reaching such epic proportions that it is borderline miraculous.

From the World Steel Association: World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 128 million tonnes (Mt) in January 2016, a -7.1% decrease compared to January 2015.

Here are the iron ore price charts for February 24, 2015: Spot slipped with Tianjin benchmark down 0.6% to $50.20.

It’s a little bit of carnage today for shares.

Fortescue’s half year profits are out: No real surprises.

From Macquarie:  Macro newsflow in particular has been lifting hopes toward steel demand for this year.

Here are the iron ore price charts for February 23, 2016: Tianjin benchmark up 0.4% to $50.50.

The screaming dead cat bounce of the last few days is finding resistance today as key prices weaken.

BHP is out with its half-year results and it ain’t pretty: So, a -5.7bn profit, a full Samarco write off and huge shale write down, an annihilated dividend and very gloomy outlook across the portfolio:   All future booms and none in sight.

For markets, the Mining GFC is now in full and panicked reverse gear.

Here are the iron ore charts for February 22, 2016: Oh yes, it’s full metal hysteria now.

From Domainfax: …the days of rock-bottom prices are probably over, say analysts.

The share market is having a good day as iron ore offers false hope to the feeble-minded.

Domainfax is reporting that Treasury is going to take outside advice on its Budget forecasts: Treasury will accept more external advice after a review identified economic forecasting shortcomings that led successive governments to spend big under the misapprehension of relentlessly strong resources-led growth.

Here are the iron ore charts for February 21, 2016:   We’re off to the races alright.

After yesterday’s  rush of blood, or vodka, the share market is pulling back today with banks down firmly.

Chart from Deutsche.