#ironore 0 online
Members of #ironore
Moderators
Members
click to invite
@VikChitra #ironore from The Australian Prices of iron ore, the nation’s biggest export, continue to defy expectations as Chinese steel demand and prices hit new highs, leading to predictions of sustained iron ore price strength and the potential for extra cash to flow to government coffers and the pockets of Australian mining investors. As analysts boost 2017 iron ore price expectations, all eyes will be on BHP Billiton and Fortescue Metals Group when they report earnings this week, to see whether they are confident enough to boost dividends. Benchmark prices of the steelmaking ingredient held above $US90 a tonne on Friday night as traders began buying after a lull last week in the wake of increased production by Brazil’s Vale. The price rose US31c to $US90.37 and looks set to test a two-year high of $US91.80 hit a week ago. While many pundits have pointed to volatility in the spot market as a reason not to get too excited by price spikes, analysts say Chinese steel prices are at four-year highs for solid fundamental reasons and that there is plenty of evidence of strong demand for iron ore. UBS analyst Lachlan Shaw said iron ore prices had been much stronger than the bank had expected. “Even with record high (Chinese port) stocks, most other signals remain supportive in the short term and seasonally strong demand in the second quarter beckons,” Mr Shaw said. He said the company’s average 2017 forecast of $US56 a tonne was looking like it could be upgraded to $US66. Chinese iron ore demand typically picks up in spring as construction activity increases after the Chinese New Year. This is expected to provide an extra boost at a time when demand has been strong because of Chinese stimulus packages. Iron ore prices at Australian ports have averaged about $US64 a tonne before shipping since the start of 2016-17, up substantially on a $US55 a tonne budget forecast that was viewed as optimistic when it was delivered in May last year. If prices can stay around current levels, it could result in an extra $3 billion of company tax revenue for the federal government in 2016-17. According to Bloomberg estimates, analysts expect BHP to report underlying first-half profit of $US3.4bn after the market closes tomorrow, a more than eightfold rise on a year earlier on the back of rising commodity prices. Deutsche Bank expects the miner, which last year abandoned its progressive dividend, to focus on paying down debt and announce a US28c per share dividend. But there a wide range of expectations, with RBC forecasting a US14c return and Credit Suisse flagging a US41.1c payout. Fortescue, which reports on Wednesday, is forecast to deliver a $US1.22bn underlying first-half profit, up from $US319m a year earlier. “Fortescue is arguably the best-placed for a dividend surprise, having largely achieved its debt-reduction plans,” said RBC analyst Paul Hissey, who is expecting a full-year dividend of US25c per share. Credit Suisse is predicting Fortescue will pay a US16.8c interim dividend. Credit Suisse analyst Matthew Hope said talk of record iron ore stockpiles at Chinese ports would not necessarily weigh on prices. He said a Mysteel survey of steel mill holdings, which include stockpiles at the mills and at the ports, was not showing high levels, indicating steel yard inventories were weak. He noted that last time steel prices were this high, four years ago, iron ore prices were $US155 a tonne.
4
from #mms,
click to invite
@Markus #Ironore jumps 2.7%, approaching $95/ton, highest since 2014
0
from #index,
click to invite
@FITZ101 $CIA Im hoping for a financing pretty soon with this #ironore price movin up. I dont know if its OK to say but we have to béat the stick while its still hot haha
0
from #ironeore,
click to invite
@Edp007 #ironore IOC going ahead with Wabush 3 mine, construction to begin in spring http://www.cbc.ca/news/canada/newfoundland-labrador/ioc-wasbush-mine-3-proceeding-1.3995776
0
from #mms,
click to invite
@R2R Thats a good way to look at it @MiningBookGuy. Looking at competition to get more clues on whats going on in the region is something that I havent really done before. Last day or two, Ive been brushing up more on the recent history of #Mali and how #China is investing a lot there -- in building railways and connecting the landlocked country to the ports in neighboring countries. This is from a couple of years -- I need to see if theres progress on that front...I think the idea is to take #Mali off the dependence on #gold and look for #ironore #uranium etc
0
from #mbgtrends,
click to invite
@tonyt $cia getting some love this morning (albeit on low volume) #ironore $fnc
1
from #fnc,
click to invite
@MiningBookGuy Miners’ win in Labor swing http://www.mining-journal.com/world/australia/miners-win-in-labor-swing/ #WesternAustralia #Australia #iron #IronOre $RIO.L $BHP #MiningJournal [As Labor leader Mark McGowan celebrated becoming "Western Australia’s 30th premier at the weekend, major miners BHP Billiton (AU:BHP) and Rio Tinto (LN:RIO) were probably also quietly popping the champagne corks."]
0
from #index,
click to invite
@MiningBookGuy Top Iron Miners' Cash Juggernaut Set to Survive Price Crash https://www.bloomberg.com/news/articles/2017-03-12/top-iron-ore-miners-cash-juggernaut-set-to-survive-price-crash #iron #ironore $BHP $FMG.AX $VALE $RIO.L "The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector."
0
from #index,
click to invite
@tonyt #ironore. what is 66%fe fetching these days? $cia $fnc
0
click to invite
@FITZ101 Around 88$US/t movin back up #ironore $CIA $IRON $FNC
0
from #cia,
click to invite
@FITZ101 @tonyt sorry 88$ was for 62% ironore si 66% would be around 94$US/t #ironore $CIA
0
from #cia,
click to invite
@VikChitra Morning guys nice #ironore blasts past $90!
1
from #mms,
click to invite
@tonyt OneOne step closer to mine reopening $cia $fnc #ironore
0
from #cia,
click to invite
@Goldfinger RBC bullish on $IronOre due to " improved steel margins that the Chinese steel companies are enjoying following supply-side reforms": http://cdn.ceo.ca/1cciiu9-Iron_Ore.png+ $China
0
from #index,
click to invite
@Quantum RBC Global Mining and Metal Outlook Q2 2017 #ironore price forecast is up by 25% to US$84.50/tonne • 2017 alumina price forecast is up 16% • 2017 #copper, #aluminum and #zinc price forecasts increased by 10% , 10% and 8%, respectively • 2017 spot coking #coal price forecast is down 18%
1
from #index,
click to invite
@tonyt #ironore currently at $92.60/t
0
click to invite
@VikChitra #ironore. Great news for the ironore industry and China/Australia relationships https://thewest.com.au/business/mining/chinese-company-lined-up-to-build-6m-balla-balla-project-ng-b88425297z
4
from #mms,
click to invite
@VikChitra #ironore. FMG predicting India's demand for ironore will increase and Australia will be in a good position to profit. Great to see Tulshyan in bed with MMS. This article gives me great confidence they prob have offtakes deals in place with Indian mills or shd I say my people! :) http://www.theaustralian.com.au/business/mining-energy/india-looms-large-on-the-iron-ore-horizon-fmg/news-story/eb1fc5071fa541e7fb7933bcbb297061
1
from #mms,