Iron ore price

From Matthew Stevens on Twiggy’s cartel: The only way Australia and its miners would benefit from any form of co-ordinated iron ore production constraint would be if Brazil could be convinced to add its name to our cartel.

Here are the iron ore price charts for August 10, 2015: Spot markets are closed.

Here are the iron ore charts for August 7, 2015: Qingdao unchanged. Paper is stalled. Dalian was unchanged overnight. The rebar rally appears spent. Chinese iron ore port stocks rose a very modest 150k tonnes to 82 million tonnes (mt).

Big iron is getting pounded today as BHP and FMG fall 2%.

RIO has done itself proud in the its mid year update: The FTSE 100-listed miner reported a pretax profit of USD1.74 billion in the first half of 2015, less than a third of the USD6.09 billion profit made a year earlier, as revenue fell to USD17.98 billion from USD24.33 billion.

Here are the iron ore charts for July 6, 2015: Qingdao faded and Tianjin too down 0.2% to $56.30.

So says some bloke at some outfit called Market Matters, from The Australian: “FMG has been a brilliantly run business over recent years, slashing its costs, hence giving confidence to any suitor that they will survive as Iron Ore plunges, down around 70 per cent in around 5 years,” said MarketMatters.com.au.

From Bloomie: Some good quotes in there.

Here are the iron ore charts for August 5, 2015: Qingdao up and Tianjin benchmark rose 2.5% to $56.40.

From the AFR: China’s Hebei Iron & Steel Group and Tewoo Group have approached Fortescue Metals Group about acquiring a stake in the iron ore producer’s infrastructure assets, people with knowledge of the matter said.

Here are the iron ore charts for August 7, 2015: Spot (Tianjin -0.5% to $55) and paper faded though Dalian put five points back on overnight to finish at 370.

From the AFR: When Rio reports this week, analysts’ consensus is for underlying earnings to shrink to $US2.4 billion, from $US5.1 billion in the year-earlier period.

Here are the iron ore charts for July 3, 2015: Qindao soared.

Here are the iron ore charts for July 31, 2015: As well as Qingdao falls, Tianjin benchmark iron ore fell 3% to $52.90.

Big iron is flat under conflicting pressures today: Idiocy spreads are flat: AGO has still been unable to stick its nose above 4 cents: Dalian futures have rebounded firmly from overnight selling and are now up 1 point on the day.

Here are the iron ore charts for July 30, 2015: Spot fell with Tianjin benchmark even more weak down 1.3% to $54.60.

Some days financial media is maddeningly daft, at the AFR: Call it the world’s most unlikely bull market.