IRON ORE – PRICES

Iron ore extends historic slump

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Original article by Business Spectator
The Australian – Page: Online : 10-Dec-15

The price of benchmark iron ore for immediate delivery to China’s port of Tianjin has fallen by 1.3 per cent to $US38.30 per tonne, compared with $US38.80 previously. The iron ore price has risen in just four of the last 43 trading sessions, and Gordon Johnson of Axiom Capital expects it to fall towards the $US30/tonne level in 2016. He also anticipates that the iron ore price will fall below $US30/tonne in 2017, if not earlier.

CORPORATES
PORT OF TIANJIN, AXIOM CAPITAL MANAGEMENT INCORPORATED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA, ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD

BHP, Rio routed amid ore slump

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Original article by Business Spectator
The Australian – Page: Online : 9-Dec-15

The price of benchmark iron ore for immediate delivery to China’s port of Tianjin has fallen by 0.3 per cent to $US38.80 per tonne, compared with US38.90 previously. The iron ore price has fallen for eight consecutive trading sessions, while it has reached a fresh 10-year low in each of the last six trading sessions. Australian-listed iron ore producers were heavily sold down on 8 December 2015, and the bearish sentiment toward BHP Billiton and Rio Tinto has continued in overnight trading in London.

CORPORATES
PORT OF TIANJIN, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, BC IRON LIMITED – ASX BCI, MOUNT GIBSON IRON LIMITED – ASX MGX, ATLAS IRON LIMITED – ASX AGO, CAPITAL ECONOMICS LIMITED, ANGLO AMERICAN PLC

Iron ore slumps below $US39

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Original article by Business Spectator
The Australian – Page: Online : 8-Dec-15

The price of benchmark iron ore for immediate delivery to China’s port of Tianjin has fallen by 1.3 per cent to $US38.90 per tonne, compared with US39.40 previously. The iron ore price has fallen for seven consecutive trading sessions, and some market watchers believe that it could test the $US30/tonne level. At current prices, it is estimated that Fortescue Metals Group and Vale are now close to their break-even price.

CORPORATES
PORT OF TIANJIN, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ROY HILL IRON ORE PTY LTD

Iron ore slides below $US40

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Original article by Alexander Liddington-Cox
The Australian – Page: Online : 7-Dec-15

The price of benchmark iron ore for immediate delivery to China’s port of Tianjin has fallen by 2.3 per cent to $US39.40 a tonne, compared with $US40.30 previously. Daniel Haynes of the ANZ Bank expects the price of the steel input to remain subdued during the next month.

CORPORATES
PORT OF TIANJIN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Iron ore extends losing run to five

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Original article by Daniel Palmer
The Australian – Page: Online : 4-Dec-15

The price of benchmark iron ore for immediate delivery to the port of Tianjin in China has fallen by 0.7 per cent to $US40.30 per tonne. The price of the steel input has fallen in 35 out of the last 39 trading sessions and Daniel Hynes of the ANZ Bank says it is high likely to fall below $US40/tonne. The Australian Government’s 2015 Budget forecasts were based on an average iron ore price of $US48/tonne, but this is expected to be scaled back to about $US40/tonne in the mid-year Budget update.

CORPORATES
PORT OF TIANJIN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ROY HILL IRON ORE PTY LTD, VALE SA, MINE LIFE PTY LTD

$US40 separates iron ore virtuosos from the pack

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 4-Dec-15

BHP Billiton and Rio Tinto are in a much better position than their rivals to weather the downturn in the iron ore price. The break-even price for both groups is currently around $A29 per tonne, while Fortescue Metals Group’s break-even price is estimated to be about $A36 at present. However, the iron ore price has now fallen below the break-even point of most smaller Australian-listed producers. Meanwhile, UBS believes that Vale has reduced its break-even price from around $US39 to $US36 in the last six months.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, GRANGE RESOURCES LIMITED – ASX GRR, BC IRON LIMITED – ASX BCI, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, ARRIUM LIMITED – ASX ARI, ROY HILL IRON ORE PTY LTD, ANGLO AMERICAN PLC, UBS HOLDINGS PTY LTD, ABERDEEN ASSET MANAGEMENT LIMITED, PILBARA MINERALS LIMITED – ASX FTN

Iron ore collapses toward $US40

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Original article by Daniel Palmer
The Australian – Page: Online : 3-Dec-15

The price of iron ore for immediate delivery to the port of Tianjin in China has fallen by 2.4 per cent to $US40.60 per tonne. The price of the steel input has shed 25 per cent in the last seven weeks, amid slowing demand for iron ore in China. The commencement of exports from the Roy Hill project has contributed to the falling iron ore price, while iron ore has shed about nine per cent in Australian-dollar terms in recent days due to the strength of the domestic currency.

CORPORATES
PORT OF TIANJIN, ROY HILL IRON ORE PTY LTD, VALE SA

Iron ore hit undermines budget

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Original article by Phillip Coorey, Stephen Cauchi
The Australian Financial Review – Page: 1 & 4 : 2-Dec-15

The Australian Government’s May 2015 Budget was based on expectations that the spot price of iron ore price would average $A48 per tonne for the calendar year. However, its average price in the year to date has been less than $US47 per tonne, and ore with 62 per cent iron content delivered to China’s port of Qingdao recently fell to $US42.97 per tonne. The downturn in the iron ore price will affect revenue forecasts in the upcoming Mid-Year Economic and Fiscal Outlook, as well as the Government’s timeframe for achieving a Budget surplus.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD

Ore extends slide, Shanghai rebar hits record low

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Original article by
The Australian Financial Review – Page: Online : 2-Dec-15

The price of iron ore for immediate delivery to the port of Tianjin in China has fallen by 2.8 per cent to $US41.60 per tonne, according to The Steel Index. Meanwhile, iron ore for delivery in January 2016 has fallen by almost two per cent on the Singapore Exchange, to $US38.70 a tonne. The global oversupply of iron ore has resulted in inventories at Chinese ports rising to their highest levels since May, topping 87.65 million tonnes in late November 2015.

CORPORATES
PORT OF TIANJIN, THE STEEL INDEX LIMITED, SINGAPORE EXCHANGE LIMITED, STEELHOME, METAL BULLETIN PLC, VALE SA, JULIUS BAER HOLDINGS LIMITED, SHANGHAI FUTURES EXCHANGE, DALIAN COMMODITY EXCHANGE, FITCH RATINGS LIMITED, BMI RESEARCH

Iron ore price dives below $US43

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Original article by Daniel Palmer
The Australian – Page: Online : 1-Dec-15

The price of benchmark iron ore for immediate delivery to China’s port of Tianjin has fallen by 1.6 per cent to a new long-term low of $US42.80 per tonne. Meanwhile, iron ore futures in Singapore have fallen below $US40 per tonne. The iron ore price has shed nearly 25 per cent in the last seven weeks, and Axiom Capital Management’s Gordon Johnson expects the price of the steel input to remain subdued.

CORPORATES
PORT OF TIANJIN, AXIOM CAPITAL MANAGEMENT INCORPORATED, ROY HILL IRON ORE PTY LTD, BLOOMBERG LP