Iron ore price

From Capital Economics:  All the signs are that the four largest producers will continue to ramp up output (see Chart 4) in an effort to use higher volumes to offset lower values.

Here are the iron ore charts for July 13, 2015: The spot rebound is done with Qingdao up a bit and Tianjin benchmark unchanged at $49.90.

Brent oil settled at $58.19 overnight as premature Greek celebrations lifted prices from an earlier slump.

Big iron is holding its ground today as Shanghai continues its coerced rebound.

Here are the iron ore charts for July 10, 2015:    Qingdao spot rallied 2.3% to $50.10.

Big iron is riding the tiger’s tail today.

The iron panic is on.

Here are the iron ore charts for July 9, 2015: Qingdao was up 9.9% and Tianjin benchmark rose $4.20, or 9.5%, to $48.30 a tonne yesterday.

From the AFR: Until now.

Big iron had a brush with death this morning as BHP tumbled, RIO got within a whisker of terminal support in the low $49s and FMG threatened a move into the $1.50s.

In Bozo Joe’s recent Budget he forecast an iron ore price of $48. However, that price was FOB which does not include the cost of delivery which is around $6 per tonne. Thus the Budget forecast was actually a CFR (or spot) equivalent price of $54 in the forward estimates.

Here are the iron ore charts for July 8, 2015: Benchmark Tianjin spot fell 11.3%, or $5.60, to $44.10 a tonne.

From Bloomie: Investors who bought $2.3 billion of iron miner Fortescue Metals Group Ltd.’s 9.75 percent securities in April have lost $255 million of market value in less than a month…Fortescue’s bonds traded at 96 cents on the dollar to yield 10.6 percent at 12:27 p.m.

As the day wears on the RIO share price wears with it, now down the better part of 3%, matching London.

From the ABC: Atlas has responded with a share market release today that outlines a number of contracts it has in place to secure floor prices, at least in the short term.

Big iron ore is taking it in the team but not as much as it should or will with BHP and RIO only down 2% plus and FMG down 4%: Fundies are in state of shock, clearly, there is much further to fall ahead.

Here are the iron ore charts for June 7, 2015: The Qingdao iron ore price tumbled 5.12%, or $2.68, to $49.60.

Always looking backwards, the AFR has story today on the travails of the junior iron ore sector: What do you cut when there isn’t much left to cut?

Another dubious report out today from an economic consultancy engaged in a rent-seeker’s fight.

Here are the iron ore charts for July 6, 2015: Qingdao iron ore crashed 5.4% to $52.28.

A picture is worth a thousand words as big iron sells: In technical terms, terminal support cracking.

Here are the iron ore price charts for July 3, 2015: The Qingdao iron ore price fell 0.7% to $55.26.