Iron ore prices

[Markcoinoz]

Rio Tinto Nailed it...Now its BHP's turn......

Excellent for the near term producers.

For the full story follow the link.

http://www.abc.net.au/news/stories/2008/06/23/2283498.htm?section=justin


Rio Tinto plans huge iron ore price hike

Posted 6 minutes ago

Mining group Rio Tinto says it has agreed to a near doubling of the price of its iron ore sales to Chinese steel maker Baosteel.

Prices are to increase by 80-97 per cent depending on the category of iron ore, which is a vital raw material used to make steel.


Under this agreement, Rio will sell Pilbara Blend Fines/Yandicoogina Fines to Baosteel for 152.22 cents per dry metric tonne unit.

Pilbara Blend Lump will cost 212.23 cents per dry metric tonne unit.


Cheers markcoinoz

 

[mullokintyre]

FYI, Dalian Iron Ore prices.
Mick

 

[mullokintyre]

Singapore Iron Ore prices looking like the Dalian IOP.
To the charting folk, how bad is it when the 50 day SMA passes through the 200 day EMA on the ay down?
Mick

 

[frugal.rock]

It's coined the "death cross" on the way down, "golden cross" on the up.
General buy or sell signal's, contrarian dependent.

 

[Gunnerguy]

It's coined the "death cross" on the way down, "golden cross" on the up.
General buy or sell signal's, contrarian dependent.

This was one of the first TA signals I ‘learnt’ when I started investing in shares in 1994. Oh the memories ….

 

[TimeISmoney]

I'd say something is going on that we don't know about, Minres wouldn't be building a loading facility if the price was tanking.

 

[divs4ever]

well the war drums are beating and ships and rifle barrels don't do well in aluminum , so iron will still have some demand but the buyers may change

 

[mullokintyre]

There is a build up of iron ore at Chinese Ports.

And not surprisingly, Chinese Iron Ore Futures have collapsed.


mick

 

[TimeISmoney]

A bit of a change into an upward swing in Iron ore prices will be a welcomed sigh of relief for many.

 

[basilio]

Iron ore price recovering. The money printers are still churning

 

[Chipp]

 

[mullokintyre]

Singapore Iron ore prices contunuing their recovery.

Mick

 

[eskys]

Prices & Chart​

Contract
Contract Month

107.70

(-1.14/-1.05%)

Bid	107.65
Ask	107.75
Open	108.10
High	108.25
Low	106.75
Prev Day Settle	108.84

WeekMonth1 Year

As at 16 Jul 2024 10:59 AM

 

[TimeISmoney]

Iron Ore falls another ~2% into our Close ------------Chart data is real-time, as of 12 08 2024 03:44pm AEST
Sailing for IRON ORE----------------One WEEK at a Time---------------------&------------One DAY at a TIME-
View attachment 182437

As St Jude said
" You Can't Help the Hopeless"
and
as my father used to say
" Nobody Takes Free Advice"

I smell a rat here, if you go into Bunnings or a steel merchant, steel is ridiculously expensive, it's got to be almost double what it cost about 5 years ago.

 

[mullokintyre]

I smell a rat here, if you go into Bunnings or a steel merchant, steel is ridiculously expensive, it's got to be almost double what it cost about 5 years ago.

Below is a chart of steel prices from China in Yuan for the past 5 years.
It is about half of what its peak was in 2021.
Even allowing for increased freight costs, the falling Yaun/Renmimbi, its at least 40% lower in AUD terms.
I spent about 10 minutes looking for a mild steel price chart in AUD , but couldn't find one.
The charts listed at Australian Steel are likewise in prices for other countries.
However, I suspect the steel merchants are doing a nice little earner on it.
Mick
.

 

[TimeISmoney]

Below is a chart of steel prices from China in Yuan for the past 5 years.
It is about half of what its peak was in 2021.
Even allowing for increased freight costs, the falling Yaun/Renmimbi, its at least 40% lower in AUD terms.
I spent about 10 minutes looking for a mild steel price chart in AUD , but couldn't find one.
The charts listed at Australian Steel are likewise in prices for other countries.
However, I suspect the steel merchants are doing a nice little earner on it.
Mick
.View attachment 182480

Retailers must have bumped the price up after Covid and left it there.

 

[Chipp]

Chinese Iron prices at 15 month lows today

 

[Chipp]

Iron Ore in USD pricing a whisker of 20 month lows today . Worse looking tbh . GS IO forecasts looking on the money