The page you are looking for is temporarily unavailable.
Please try again later

Money The iron ore price slide appears to be slowing

13:44  14 march  2018
13:44  14 march  2018 Source:   businessinsider.com.au

Jennifer Lawrence Is Dripping in Gold For a Gorgeous Night Out at the Oscars

  Jennifer Lawrence Is Dripping in Gold For a Gorgeous Night Out at the Oscars Jennifer Lawrence took a break from torturing Russian spies to attend the 90th annual Academy Awards on Monday. The Red Sparrow actress was dripping in gold as she made her way down the red carpet in front of photographers in a gorgeous metallic gown (note: she managed not to trip), and we could barely peel our eyes away.

While coking coal and coke contracts continued to slide , iron ore and rebar futures managed to buck the trend, closing fractionally higher for the session. Overnight price action in Chinese commodity futures had not been a reliable indicator for movements in spot markets in recent weeks.

Iron ore shipments were disappointing with shipments affected by Cyclone Joyce hitting Port Hedland. The value of top quality iron ore "fines" exports was down 14 per cent, with a 2 per cent increase in price overwhelmed by 16 per cent lower volumes.

a group of people sitting at a table© Provided by Business Insider Inc

Iron ore spot markets have stabilised after several days of heavy losses.

According to Metal Bulletin, the price for benchmark 62% fines fell 0.2% to $69.78 a tonne, it's eighth straight day of losses.

That's now the longest losing streak since July 2015.

  The iron ore price slide appears to be slowing © Provided by Business Insider Inc

However, while the benchmark fell, lower and higher grades bucked the trend, rising for the first day in over a week.

Ore with 65% Fe content rose 0.5%, settling at $86.40 a tonne. 58% fines added a smaller 0.3%, finishing the session at $40.47 a tonne.

The mixed performance came amidst ongoing concerns about the outlook for Chinese steel demand, said Vivek Dhar, Mining and Energy Commodities at the Commonwealth Bank.

'Game changer': New vulnerability to climate change in ocean food chain

  'Game changer': New vulnerability to climate change in ocean food chain An unusually broad range of scientific fields has identified a new risk to a key set of species at the bottom of the food chain from climate change.A team of researchers from the Scripps Institution of Oceanography and the J. Craig Venter Institute (JCVI) applied techniques from the emerging field of synthetic biology to understand how ocean acidification from the absorption of CO2 is affecting tiny plants known as phytoplankton.

Iron ore prices , hit by weak steel demand in China, will continue to suffer as Europe slides back into recession. Prices remained depressed this week, with sluggish demand from China providing no impetus for a rally.

The swift decline is being seen as a sign of the fragility in iron ore prices , given the slowing economic growth in its biggest market —China. The research firm expects the iron ore price to slide back to $US50 a tonne, while thermal coal prices could ease to $US70 a tonne, from around the current

"Markets are worried that China’s steel mills will struggle to clear its excess steel inventory, which has built up in anticipation for stronger demand during the construction season," he said in a note released during the session.

Iron ore is selling off again

  Iron ore is selling off again Iron ore spot markets fell heavily on Friday, reversing gains of the prior two sessions. The benchmark iron ore price has now lost 12% since March 1.And with Chinese futures down heavily in overnight trade on Friday, it looks like spot markets may fall to fresh multi-month lows when trading re-opens, at least based on early indications.

The price of iron ore has plunged further and appears to be heading back towards a two-year low as concerns re-emerge about Chinese demand and Brazilian company Vale sees an oversupply of the base metal. The iron ore spot price fell

THE iron ore price ’s slide below the $US100 a tonne mark has sent nerves jangling from the Pilbara to Canberra. RE: Iron Ore Prices . The tightening of credit, on top of slowing growth, has stressed on highly geared sectors.

"We think there are valid concerns over China’s steel consumption this year, particularly as China’s property sector faces headwinds from policy. More broadly, a clampdown on credit growth, will weigh on China’s commodity demand this year."

Dhar predicts a smaller increase in Chinese commodity demand than seen in 2017, adding that his forecast faces downside risks if construction activity struggles to pick up in coming months.

Souring sentiment towards the outlook for steel demand weighed on rebar futures in Shanghai which closed Tuesday's day session off 0.65% at 3,695 yuan a tonne.

Those losses extended to iron ore, coking coal and coke futures traded separately in Dalian which closed at 479 yuan, 1,251.5 yuan and 1,988 yuan a tonne respectively.

The losses in coal were particularly acute, a move that continued in overnight trade on Tuesday.

Here's the final scoreboard for the session.

Woolworths wins from Coles spin-off: BAML

  Woolworths wins from Coles spin-off: BAML Woolworths is a "key beneficiary" of Coles being cut loose from Wesfarmers, Bank of America Merrill Lynch says.Coles will struggle to compete with arch-rival Woolworths once it has been spun-out into a separate company and has to fend for itself without the support of the retail giant Wesfarmers.

After a solid bounce on Tuesday, normal operations resumed across iron ore spot markets on Wednesday. Higher grades also came under renewed pressure with ore with 65% Fe content sliding 0.8% to .80 a tonne. With market activity slowing to a crawl, many are now pondering where prices will head next as To Westpac’s strategy team, the risks appear to be slanted to the downside.

How the sliding iron ore price will affect Australia. Only now, as the price for Australia's top export commodity slumps at a five-year low, does there appear to be a consensus that iron ore , and mining generally, was helping to prop up government revenues and sections of the economy far away from

SHFE Rebar¥3,697,-0.40%
DCE Iron Ore¥482.00,0.42%
DCE Coking Coal¥1,249.00,-0.95%
DCE Coke¥1,974.00,-1.30%

While coking coal and coke contracts continued to slide, iron ore and rebar futures managed to buck the trend, closing fractionally higher for the session.

Overnight price action in Chinese commodity futures had not been a reliable indicator for movements in spot markets in recent weeks.

Trade in all four contracts will resume at midday AEDT, one hour before the Chinese government releases industrial output, urban fixed asset investment and retail sales figures for February.

Also keep an eye out for any potential reaction to reports that US President Donald Trump is asking members of his administration to come up with new tariffs and trade restrictions on China.

This has only recently broken, coming after the close of Chinese futures in overnight trade.

Shot of cognac sells in London bar for £10k .
A shot of cognac has sold in a London bar for £10,014, setting a new world record. A shot of cognac has sold in a London bar for £10,01 The 40ml serving of Rome de Bellegarde sold on Wednesday night after it was discovered in the cellars of cognac house Jean Fillioux by fifth generation cellar master Pascal Fillioux.It is believed to be the very first blend created by Jean Fillioux in 1894.The event was attended by cognac lovers and industry experts, who witnessed the very first pour.An official adjudicator from the Guinness World Records was also present.

Source: http://au.pressfrom.com/news/money/-57939-the-iron-ore-price-slide-appears-to-be-slowing/

—   Share news in the SOC. Networks

Topical videos:

This is interesting!