IRON ORE – PRICES

MinRes close to mothballing iron ore mines

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 & 20 : 21-Nov-14

The price of iron ore is currently trading at around $US70.20 per tonne, its lowest level in more than five years. Mineral Resources MD Chris Ellison says the group will suspend production at its iron ore mines in Western Australia if the price falls below its cash costs. He adds that it is very close to this point. Ellison forecasts that the iron ore price will trade within a range of $US75-$US85 per tonne over the next several years

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, BC IRON LIMITED – ASX BCI, IRON ORE HOLDINGS LIMITED

Citi, ANZ price forecast grim for high-cost iron ore

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Original article by Amanda Saunders
The Australian Financial Review – Page: 28 : 12-Nov-14

The ANZ Bank’s Mark Pervan doubts that the iron ore price will return to $US100 per tonne, and forecasts that the steel input will trade at $US78/tonne in 2015. Citigroup expects the iron ore price to trade at $US65/tonne in 2015 and 2016. The firm has downgraded its recommendation on Atlas Iron and Mount Gibson Iron stock from "neutral" to "sell", and Fortescue Metals Group has been downgraded from "buy" to "neutral"

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, CITIGROUP PTY LTD, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP

Iron price not going anywhere, says BHP

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Original article by Amanda Saunders
The Australian Financial Review – Page: 11 & 16 : 20-Oct-14

The iron ore price is currently trading at around $US83 per tonne. Mike Henry of BHP Billiton says the price could briefly rise above $US100/tonne, but he does not expect such a price to be maintained in the long-term. Henry has justified BHP’s decision to ramp up iron ore production, arguing that if it did not then another miner would do so in Australia or elsewhere. Rio Tinto and Fortescue Metals Group are also increasing their output

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Marubeni: rock bottom picked for iron ore price

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Original article by Peter Ker, Max Mason, Scott Parker
The Australian Financial Review – Page: 13 & 21 : 15-Oct-14

The benchmark iron ore price rose by 4.9 per cent to $US84.17 per tonne on 14 October 2014, clawing back some its losses of recent weeks. Marubeni Corporation’s Shinji Kawai expects the iron ore price to rise in 2015, although he anticipates that it will remain below $US100/tonne. Japan-based Marubeni holds a 15 per cent stake in Hancock Prospecting’s Roy Hill iron ore project. The group also holds stakes in coal mines owned by Rio Tinto, Anglo American and Glencore

CORPORATES
MARUBENI CORPORATION, HANCOCK PROSPECTING PTY LTD, RIO TINTO LIMITED – ASX RIO, ANGLO AMERICAN PLC, GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MOUNT GIBSON IRON LIMITED – ASX MGX, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI, POSCO, CHINA STEEL CORPORATION, CHINA. NATIONAL BUREAU OF STATISTICS, UBS HOLDINGS PTY LTD, VALE SA, CITIBANK PTY LTD

Mining wages too high, says Mitsui

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 26-Sep-14

Mitsui Australia CEO Yasushi Takahashi has questioned whether the nation’s high wages in the mining sector are sustainable. He argues that productivity needs to improve in order to justify the high labour costs relative to other resources-rich countries. Meanwhile, Takahashi expects the price of coal and iron ore to begin to recover by the end of 2014, and he suggests that the oversupply of iron ore could potentially be over by 2017

CORPORATES
MITSUI AND COMPANY (AUSTRALIA) LIMITED, MITSUI AND COMPANY LIMITED, SIMS METAL MANAGEMENT LIMITED – ASX SGM, BHP BILLITON LIMITED – ASX BHP, WOODSIDE PETROLEUM LIMITED – ASX WPL

Iron ore prices hit five-year low

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Original article by Barry FitzGerald
The Australian – Page: 18 : 22-Sep-14

The spot price of iron ore fell by 1.6 per cent on 19 September 2014, closing at a new five-year low of $US81.70 per tonne. This compares with $US120 a tonne in mid-April. The Australian Bureau of Resources & Energy Economics expects the iron ore price to fall further, but anticipates that it will trade within a range of $US90 to $US95 per tonne in the next five years

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY. BUREAU OF RESOURCES AND ENERGY ECONOMICS, STANDARD BANK LONDON LIMITED, THE STEEL INDEX LIMITED

Steel price recovery a boost to miners

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Original article by Sarah-Jane Tasker
The Australian – Page: 20 : 17-Sep-14

The iron price gained four per cent in overnight trading on 15 September 2014, rising to $US85 per tonne. Shares in Australian-listed iron ore producers rallied in response. However, independent market strategist David Scutt notes that sharp gains in the iron ore price often occur between September and November

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, DFP RECRUITMENT SERVICES PTY LTD

Price collapse to cost big miners $10bn

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Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14

Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED

Price collapse to cost big miners $10bn

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Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14

Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED

Price collapse to cost big miners $10bn

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Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14

Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED